Ted Baker set to buck retail woes with higher profits

Fashion chain Ted Baker is expected to buck woes among retail rivals when it posts half-year results tomorrow, showing higher profits and sales.
By The Newsroom
Published 10th Oct 2016, 07:04 BST
Updated 25th Oct 2016, 19:48 BST

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Ted Baker, which began life in Glasgow, reports its half-year figures tomorrow. Picture: Astrid Stawiarz/Getty ImagesTed Baker, which began life in Glasgow, reports its half-year figures tomorrow. Picture: Astrid Stawiarz/Getty Images
Ted Baker, which began life in Glasgow, reports its half-year figures tomorrow. Picture: Astrid Stawiarz/Getty Images

The group, which began life in 1988 with a store in Glasgow, said retail sales rose 10.3 per cent on a constant currency basis in its first quarter, while online transactions rocketed 32.3 per cent and interims are expected to show another robust performance.

Analysts at Goldman Sachs are expecting a 13 per cent hike in first half pre-tax profits to £20 million and for retail sales to have risen by 9.3 per cent.

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Ted Baker shrugs off high street slowdown as sales rise

While sales are likely to have slowed a little, it will mark resilient growth amid a torrid past few months for high-street clothing chains.

High street retailers such as Next, John Lewis and House of Fraser have all warned over tough trading conditions in recent weeks amid a shift in consumer spending.

However, analysts said Ted Baker has been outperforming its rivals, with Exane BNP Paribas seeing the firm as having “the ingredients for long-term global success”.

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