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FTSE 250 fashion house Ted Baker (LON:TED) reported that profits before tax for the year ended 26th January dropped by 26.1% to £50.9 million. Revenues for the period grew by 4.4%, driven by European, North American, and E-commerce sales.
Acting CEO Lindsay Page commented: “Ted Baker has continued to grow across each of the brand’s distribution channels despite difficult trading conditions across a number of the Group’s global markets. This resilient sales performance again reflects the strength of the brand, the talent of our teams, and the quality of our collections.
I would like to take this opportunity to thank each of my colleagues for their outstanding enthusiasm, skill and commitment and our global partners for their support throughout the year.
We have made a number of significant investments to ensure that Ted Baker remains well positioned for long term development. We are excited by our Spring/Summer collections and the Board remains focussed on identifying opportunities in the evolving retail market to further expand the brand“.
Ted Baker’s share price dropped by 7.20% to 1,586.81p (as of 13:45 GMT).