Ted Baker hails strong first half
Fashion chain Ted Baker said reaction to its autumn/winter collections has been positive as it unveiled a solid first half trading performance.
Fashion chain Ted Baker said reaction to its autumn/winter collections has been positive as it unveiled a solid first half trading performance.
Group revenue in the 28 weeks to August 11th rose 15.4% to £118.6m from £102.8m at the halfway point last year. UK and European retail sales rose 7.9% year-on-year to £74.7m while US retail sales shot up 53.3% to $25.6m. In the rest of the world, retail sales were up 58.1% to £2.8m. E-commerce sales were up 82.4% to £6.2m.
The retail gross margin was 64.6% (2011: 64.0%) reflecting a lower level of promotional activity this time round.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Wholesale sales were up 15.4% to £24.9m from £21.6m the year before, reflecting continued growth in the UK and USA. Underlying wholesale margins were largely unchanged. Group wholesale sales for the full year are expected to be up by some 8% year-on-year.
Licence income increased by 19.2% to £3.7m as a result of a strong performance from both product and territorial licences.
Profit before tax and exceptional costs climbed 10.4% to £9.4m from £8.5m the year before, but once those exceptional costs had been applied, profit before tax was down 8.4% at £7.8m. The exceptional costs of £1.6m relate to rent on the group's prestigious store on Fifth Avenue in New York and its stores in Tokyo, as well as set-up costs for its expansion into China. There were also a few bad and doubtful debts from Greek customers.
Adjusted earnings per share (EPS) advanced to 16.8p from 14.8p last year, but basic EPS retreated to 13.9p.
The interim dividend has been hiked 10.5% to 7.9p from 7.15p the year before.
"Whilst we have made a strong start to the financial year, our results for the full year will, as always, be dependent on trading in the second half of the financial year and we remain cautious given the challenging trading environment. Our costs and financial commitments remain under control and, with our strong balance sheet, we will continue to invest in the long term development of the Ted Baker brand," the company said.
JH
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is a trust – and should you use it to avoid inheritance tax?
Trusts are surging in popularity as a way to avoid inheritance tax, according to financial advisers on the frontline of estate planning. We look at what trusts are and if they are right for you.
-
What will be the consequences of Donald Trump’s "One Big Beautiful Bill"?
The US president’s "One Big Beautiful Bill", an extraordinary mix of tax cuts and spending plans, has made it through both houses of the US Congress. What will be the consequences?