Ted Baker, the fashion retailer from the UK, has posted a year-over-year (Y-o-Y) revenue rise of 17.6 per cent to clock £199.3 million in the 28 weeks that ended 14 August 2021.
The numbers have been good though the revenue slumped by 36.4 per cent, when compared to the same period back in 2019.
The loss before tax fell from £86.4 million in the equivalent period in 2020 to £25.3 million. Notably, the loss before tax surged by 10.1 per cent compared with 2019.
The e-commerce sales slumped Y-o-Y by 14 per cent to post £63.6 million. The fashion retailer has attributed the decrease to its move away from last year’s heavy promotional stance to re-establish a premium positioning.
The wholesale sales for the said period went up by 40.6 per cent Y-o-Y to £55.5 million.
Ted Baker has said that it is presently experiencing limited negative impact from the global supply chain disruptions or rising inflation. The retailer further added that it has a ‘basket of mitigation strategies’ to reduce the impact of further supply chain issues and the cost of inflation.
The London-based clothing retailer generated £617.4 million in 2019.
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