Ted Baker plans more stores overseas
TED Baker has designs on more international expansion as it avoided a meltdown in sales from September’s high temperatures.
The FTSE 250 designer label has started the second half well “with a good performance from our autumn/winter collections despite unusually warm weather”.
By contrast, Next warned this week it would have to lower profit forecasts unless temperatures drop. Founder and chief executive Ray Kelvin said: “Business has been good, we’ve got good quality products.
Business has been good, we’ve got good quality products
“Obviously, we probably would have done even better in the last few weeks had we had a colder snap but we’re in a good position.”
The company plans to expand in North America in the second half with new stores in Miami and Toronto and more concessions in the US. Concessions will also open in Spain, Portugal and the Netherlands.
Half-year pre-tax profit rose 33.8 per cent to £15.6million on revenue up 17.4 per cent to £182.2million.
In the UK, home to nearly half of its total 381 stores and concessions, and Europe, sales improved 16.7 per cent to £139.7million. Shares added 11p to 1873p.