Promotions dent Ted Baker margins
Gross margins were some 2.5 per cent below those achieved last year reflecting a higher level of promotional activity which the company says was necessary given the competitive environment.
By Mark Higgins
For the key Christmas period from 1 November to 24 December sales rose 7.2 per cent compared to the same period last year. Gross margins fell 2.5 per cent, Retail sales for the period from 10 August 2008 to 24 December 2008 increased by 11.5% when compared to the same period last year.
Commenting on trading, chief executive Ray Kelvin said, “This is a creditable performance in a very challenging market. We expect 2009 to be a challenging year but believe that we are well placed to deal with the difficult trading environment. We remain focused on providing great products for our customers and offering the highest service levels.’
markh@theretailbulletin.com
