Ted Baker sales boosted by global expansion
Ted Baker’s expansion into other parts of the world has proved to be a strategically sound decision, as it has reported a 15 per cent increase in sales and profits in the 28 weeks to August 11th 2012.
The famous British retailing company, which opened its first store in Glasgow in 1987, has recently opened up new stores in Tokyo and New York, two of the most fashion-centric cities in the world.
While its performance in Europe has been modest at best, Ted Baker has been enjoying solid growth in Asia and North America. It now has just fewer than 300 stores all over the globe.
“We are especially pleased with the positive reaction to our autumn/winter collections and I am delighted with the openings, since the period end, of our first store in China in Beijing and our first concessions in Germany, as we continue to build Ted’s global presence,” said Ray Kelvin CBE, founder and chief executive of the company.
“As ever, our full year results will be dependent on trading in the important second half and we remain understandably cautious at this stage given the uncertainty in the global economy. However, we believe that we are well placed to deal with the challenges ahead.”
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