Ted Baker has delivered a 10.4% profit before tax increase to £9.4m for the 28 weeks to August 11 as it opened stores in London, New York and Tokyo.
Group revenue surged 15.4% to £118.6m in its first half, while UK and Europe retail sales jumped 7.9% to £74.7m.
Online sales rocketed 82.4% to £6.2m following a “very positive” response from customers after the launch of its m-commerce site in April. The retailer said sales momentum was also continuing to build on its main UK site after it made improvements last year.
Retail gross margin improved to 64.6% against 64% last year as a result of a lower level of promotional activity.
Founder and chief executive Ray Kelvin said: “We have delivered good results in a challenging environment while making important investments for the long-term development of the brand, including opening new stores in Tokyo and on Fifth Avenue, New York.”
Since the end of its last financial year Ted Baker has opened its first store in China in Beijing and its first concessions in Germany and is planning more international growth. It has also opened a store on London’s Brompton Road.
Kelvin said that customers have reacted positively to Ted Baker’s autumn/winter collections.
“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, ” he added.
Ted Baker’s wholesale division recorded sales up 15.4% to £24.9m, while the UK division increased 11.7% to £21m.
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