Ted Baker sales up 35% in fourth quarter despite impact of Omicron
Ted Baker has seen its fourth quarter sales increase by 35% year-on-year as customers responded well to its new collections.
In the 12-week period to 29 January, sales were up 18% on the prior quarter.
The fashion retailer said it successfully navigated global supply chain disruptions in the period, which had a modest impact on product availability.
It also revealed that its autumn/winter womenswear collections performed well with strong sales across the bags, footwear and tops categories. However, the performance within menswear was more mixed.
Never Miss a Retail Update!Meanwhile, trading margin improved by over 350 bps across all channels in the period.
Rachel Osborne, chief executive of Ted Baker, said: “We continue to make good progress with our transformation and despite the impact of Omicron on the quarter, were pleased to deliver group sales up 35% compared with last year. The strong improvement in trading margin is encouraging, along with the increase in full price sales mix, demonstrating the progress we’re making as Ted re-establishes its premium brand positioning.”
The company also said that work is well underway to recruit a new chair to succeed John Barton who died suddenly last year.
