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Ted Baker Profits Up 33%

Rivet's 2020 Denim Circularity report takes a deep dive into how the global denim industry is plotting its circular future amidst a worldwide pandemic.

Things are looking good for Ted Baker as before tax profits are up 33 percent for the 28-week period ending August 10.

Retail sales including e-commerce are up 30.2% overall with UK and European retail sales up 22.6% to £91.6m ($147m), US and Canada retail sales up 56.8% to £25.4m ($41m) and retail sales in Asia are up 78.6% to £5m ($8m).

E-commerce sales were up 51.6% to £9.4m ($15m).

Ray Kelvin CBE, Founder and Chief Executive said, “We have been pleased with the Group’s performance across all distribution channels. The last 12 months have seen Ted Baker enter six new international markets and we have been encouraged by the reaction to the brand and collections in these latest territories.”

The company plans to expand with two new stores and an outlet in Shanghai and further concessions in the US, France, Spain and The Netherlands and outlets in Toronto and Belgium.

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