Ted Baker, the British lifestyle brand retailer, has reported 50 per cent sales growth in the 16-week period of second quarter (Q2) from April 25 to August 14, 2021, compared to the same period of prior fiscal. The figures are in line with the expectations, with continued Covid-impact leading to different speeds of recovery across key markets, according to the company.
Ted Baker, the lifestyle brand retailer, reported 50 per cent sales growth in the 16-week period of second quarter (Q2) from April 25 to August 14, 2021, compared to the same period of prior fiscal. The figures are in line with the expectations, with continued Covid-impact leading to different speeds of recovery across key markets, according to the company.#
“We have made encouraging progress, with trading over the second quarter in line with expectations, albeit the speed of recovery is different across store locations and regions. Full price sales mix has significantly improved across all our retail channels as we continue to re-establish our premium lifestyle brand positioning,” Rachel Osborne, chief executive officer at Ted Baker, said in a press release.
Ted Baker, the lifestyle brand retailer, reported 50 per cent sales growth in the 16-week period of second quarter (Q2) from April 25 to August 14, 2021, compared to the same period of prior fiscal. The figures are in line with the expectations, with continued Covid-impact leading to different speeds of recovery across key markets, according to the company.#
North American concessions, North American and UK shopping malls has shown improved performance as consumer confidence recovered, the UK-based retailer added.
Ted Baker, the lifestyle brand retailer, reported 50 per cent sales growth in the 16-week period of second quarter (Q2) from April 25 to August 14, 2021, compared to the same period of prior fiscal. The figures are in line with the expectations, with continued Covid-impact leading to different speeds of recovery across key markets, according to the company.#
Ted Baker’s retail sales during the reported period surged 30 per cent over Q2 of FY21, however it slipped 30 per cent compared to Q2 of FY20. Furthermore, e-commerce sales plunged 25 per cent representing 39 per cent of total retail sales (Q2 FY21: 67 per cent), reflecting highly promotional stance last year ahead of balance sheet recapitalisation. Wholesale revenue expanded 151 per cent over second quarter of FY20.
Ted Baker, the lifestyle brand retailer, reported 50 per cent sales growth in the 16-week period of second quarter (Q2) from April 25 to August 14, 2021, compared to the same period of prior fiscal. The figures are in line with the expectations, with continued Covid-impact leading to different speeds of recovery across key markets, according to the company.#
“Our transformation programme remains on track, and we have moved forward on the three key pillars of our plan in refreshing and re-energising the product and brand, prioritising digital and capital light growth and through our cost savings programme,” Osborne continued.
Ted Baker, the lifestyle brand retailer, reported 50 per cent sales growth in the 16-week period of second quarter (Q2) from April 25 to August 14, 2021, compared to the same period of prior fiscal. The figures are in line with the expectations, with continued Covid-impact leading to different speeds of recovery across key markets, according to the company.#
“The Ted Baker brand remains strong, evidenced by YouGov's recognition of Ted Baker as the second most popular luxury brand in the UK. Our product also continues to strengthen, and we are pleased by the start to the Autumn/Winter 2021 collections which is being well received by our customers,” Osborne said.
Ted Baker, the lifestyle brand retailer, reported 50 per cent sales growth in the 16-week period of second quarter (Q2) from April 25 to August 14, 2021, compared to the same period of prior fiscal. The figures are in line with the expectations, with continued Covid-impact leading to different speeds of recovery across key markets, according to the company.#
The clothing retailer will announce its results for the 28-week period ended August 14, 2021, on November 11, 2021.
Fibre2Fashion News Desk (JL)
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