Womenswear leads the way as Ted Baker sales soar
23 February 2022, 12:54
The fashion retailer also said there had been a ‘strong initial reaction’ to its spring/summer 2022 collection.
Womenswear led the way to a buoyant Christmas period for Ted Baker, as the business shrugged off the impact of Omicron.
The retailer said sales shot up by more than a third in the three months to the end of January.
However the business saw a “mixed” performance in its menswear section.
Men were largely buying the company’s core products rather than trying new designs, something the firm said it would learn from in its next collection.
Chief executive Rachel Osborne: “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.
“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.”
The company said bags, footwear and tops have been particularly popular among women during the autumn and winter.
It also said there had only been a “modest impact” on the availability of its products because of supply chain disruption.
Shares had risen more than 16% by around midday on Wednesday.
