Ted Baker full year 2016 revenues increase 16.4 percent
Ted Baker Group revenue for the year increased by 16.4 percent or 10.8 percent in constant currency to 531 million pounds (663 million dollars). Profit before tax and exceptional items increased by 12.1 percent to 65.8 million pounds (82 million dollars) and profit before tax increased by 4.4 percent to 61.3 million pounds (76.5 million dollars). Adjusted basic earnings per share, which excludes exceptional items, increased by 13.3 percent to 114 and basic earnings per share increased by 5.1 percent to 105.7p.
“I am pleased to report another good year of progress in Ted Baker’s expansion as a global lifestyle brand. We have continued to trade well and develop despite a backdrop of ongoing external challenges across our global markets. This success reflects the strength and appeal of the brand as well as the outstanding quality of our collections.,” said Ray Kelvin CBE, Founder and Chief Executive of Ted Baker in a statement.
The group gross margin increased to 61 percent from 59.9 percent last year due to improved full price sell-through in the company’s retail channel and an improved mix of wholesale sales to trustee customers, as well as some foreign exchange benefits.
The company’s retail division performed well, with sales up 15 percent or 9.2 percent in constant currency to 400.7 million pounds (500 million dollars). The growth, Ted Baker said, was driven by continued investments in new and existing stores and a strong e-commerce performance, where sales grew by 35.1 percent or 32.3 percent in constant currency to 72.3 million pounds (90.3 million dollars) and represented 18 percent of total retail sales.