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.

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.”

Click here to sign up to Retail Gazette‘s free daily email newsletter

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

from Retail Gazette https://ift.tt/itSKyfX
via IFTTT

Comments

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...

Latest Retail Insight, News, Information & Articles from all top sources for the Internet.

Search This Blog