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Ted Baker to expand UK presence as sales rebound after Omicron

// Ted Baker sales rise during the festive season despite the impact of the Omicron variant
// Sales rose by 35% year-on-year from November 7 2021 to January 29 2022

Ted Baker has reported a rise in overall and full-price sales despite the effects of the Omicron variant during the festive season.

The fashion retailer said sales rose by 35% year-on-year in the 12 week period from November 7 2021 to January 29 2022, which marked an 18% improvement on the previous quarter.

Ted Baker found that sales in the fourth quarter were running at 10% below pre-pandemic levels before Omicron warnings, and 42% below after.

READ MORE: Ted Baker appoints marketing and digital boss

The retailer also reported a better trading margin after its move to full price sales.

It is now considering expanding and has signed a franchise agreement in the UK which will see three new stores opening each year for the next three years.

It has also extended its licences in the US including bedding and homewares.

“We continue to make good progress with our transformation and despite the impact of Omicron on the quarter, were pleased to deliver group sales up 35% compared with last year,” Chief executive Rachel Osborne said.

“The strong improvement in trading margin is encouraging, along with the increase in full price sales mix, demonstrating the progress we’re making as Ted re-establishes its premium brand positioning.

“Our product is resonating with customers and we were particularly pleased with the performance of womenswear, with bags, footwear and tops all selling well, and a strong initial reaction to the Spring/Summer 2022 collection.

“Ted is emerging from Covid a stronger more sustainable business and we’re excited for the future.”

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The post Ted Baker to expand UK presence as sales rebound after Omicron appeared first on Retail Gazette.



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