Ted Baker profits soar as retailer aims for global expansion
Thursday 20 March 2014
Ted Baker has reported a 26.7 per cent pre-tax profit jump to £40 million as the London-based retailer vows to cement "truly global” presence.
Ray Kelvin, founder of the quirky group, said the full-year results showed it has been performing well across all its markets with wholesale up 35 per cent and website sales ahead by 55.7 per cent. Group sales soared 26.5 per cent to £321.9 million.
Kelvin said: “Not many brands that wholesale and retail have cracked America and we have. We have done reasonably well in all territories that we have opened in. We are now truly becoming a global brand.”
The results were in line with City expectations and it said it had a good reaction to its spring/summer ranges.
The brand now has 362 stores and concessions worldwide including Turkey, China and Australia. Kelvin said its Panama store is a test bed for further Latin America expansion, but plans for Russia are on hold due to the current political issues.
- 1 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 2 I might be an MP, but that doesn't stop me fighting sexism with my breasts
- 3 Martha Stewart accuses Snoop Dogg of 'smoking for four hours' during Justin Bieber Roast
- 4 Google April Fools': company unveils backwards search engine and huggable digital assistant
- 5 April Fools' Day 2015: The best hoax news stories from around the internet
Martha Stewart accuses Snoop Dogg of 'smoking for four hours' during Justin Bieber Roast
April Fools' Day 2015: The best hoax news stories from around the internet
April Fools' Day 2015 live: The best pranks and fake stories from around the world
University of Cambridge: Remains of 1,300 scholars are found under building
Turkey power cut: Prime Minister says nationwide blackout could be caused by terrorists
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
£20000 per annum + commission: SThree: Sthree have an exciting opportunity for...
£18000 - £32000 per annum: Recruitment Genius: A Telesales Executive is requir...
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...