Home / Knowledge / News / Apparel/Garments / Fashion retailer Ted Baker inks exceptional H1FY15 results
Fashion retailer Ted Baker inks exceptional H1FY15 results
04
Oct '14
UK-based fashion retailer beat hot and sultry weather to post exceptional financial results whether in sales or profits in the fiscal first half ended August 9, 2014.

In the 28 weeks to August 9, Ted Baker revenue surged 17.4% to £182.2 million from £155.2 million from the first half of 2013.

The composite gross margin however fell to 58.5% in the period under review from 59.7%.

Ted Baker attributed the same, partly to a change in sales mix between wholesale and retail sales and partly due to a slight decrease in retail and wholesale margins.

Ted Baker said its operating expenses rose in line with expectations by 15.6% in the first half of 2014 to £97.2 million, up from £84.1 million in the comparable period of 2013, which the retailer said was reflection of its investment in people and infrastructure.

In the period under review, distribution costs, which largely comprise cost of retail stores, outlets and concessions hiked 13.2% to £70.2 million also up from £62.0 million and as a percentage of retail sales fell to 50.2% from 50.9%.

Administrative expenses including the performance related bonus provision increased by 21.5% to £26.6 million from £21.9 million, mainly from growth of its central operations and continued investment in IT infrastructure.

Ted Baker incurred exceptional costs in the period of £2.6 million versus nil in the first half of prior year, which relates to a legal dispute with a previous insurer.

The retailer also gained £3.7 million exceptional income in the first half of 2014, from the early termination of a licence partner agreement.

Profit before tax and exceptional items surged 24.2% to £14.4 million from £11.6 million in the first half of 2013.

In the first half of 2014, adjusted basic earnings per share excluding exceptional items also mounted 19.8% to 24.2 pence from 20.2 pence in the same period of 2013.

Its net interest outgo rose marginally to £0.6 million from £0.5 million in the first half of 2013, due to higher Group borrowing from an increased capital expenditure and working capital.

The net foreign exchange loss during the period of £0.1m (2013: loss of £0.6m) was due to the retranslation of monetary assets and liabilities denominated in foreign currencies.

The retailer said net decrease in cash and cash equivalents of £23.8 million from £19.3 million, primarily reflected an increase in working capital and further capital expenditure to support long term development.

Ted Baker declared an interim dividend of 11.3 pence up from 9.5 pence, representing an increase of 18.9%, which it will pay on November 21, 2014. (AR)

Fibre2fashion News Desk - India


Must ReadView All

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

Trade & consumers want MDR free digital payments: CAIT

Apparel/Garments | On 12th Dec 2017

Trade & consumers want MDR free digital payments: CAIT

Transaction charges like the merchant discount rate (MDR) applicable...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search