Ted Baker posts 16.4% sales rise despite "external challenges"

Premium fashion and lifestyle brand Ted Baker achieved a 16.4% growth in group revenues in 2016 despite a backdrop of "on-going external challenges across our global markets".

Group revenues hit £531m in the 52 weeks ending 28 January (2016: £456.2m), while pre-tax profits were up 4.4% at £61.3m. All of the group's selling channels achieved strong growth. Retail sales were up 15% to £400.7m (e-commerce is reported within this figure with this channel showing a 32.3% growth at £72.3m), wholesale was up 20.9% at £103.4m while licensing was up 26.8% to £18.2m.

Chief executive Ray Kelvin described 2016 as "another good year of progress" and said the business had got off to a strong start in 2017. "Our Spring/Summer collections have been well received and we have a clear strategy for continued growth across both established and newer markets. This is underpinned by controlled distribution across channels as well as the design, quality and attention to detail that are at the core of everything we do," Kelvin said.

Ted Baker, which was founded by Kelvin in Scotland in 1988, now has 490 stores and concessions worldwide, comprising 192 in the UK, 98 in Europe, 111 in the US and Canada, 80 in the Middle East, Africa and Asia and 9 in Australasia. Its brand offer spans a range of collections including menswear, womenswear, childrenswear, homewares, footwear, fragrance, watches and gifts.