Heat stifles sales for fashion label
Published 07/10/2011 | 08:00
Fashion house Ted Baker has warned that unseasonably warm weather in the last few weeks has affected its recent strong sales run.
The group, which has 30 wholly-owned stores, 121 concessions and nine outlet stores in the UK, reported a 7.8% lift to retail sales in the UK and Europe to £69.2m in the six months to August 13.
While the fashion label said the strong performance had continued in the second half of the year as its autumn range was well received, it said recent record temperatures had impacted sales.
Ted Baker, which has six stores in Europe outside the UK, nine US stores and 18 stores in the Middle East, Asia and Australia, reported a 13% increase in pre-tax profits to £8.5m.
Ted Baker's strong results will bring some relief to the high street, where companies are struggling amid plummeting consumer confidence.
But chief executive Ray Kelvin said he remained "understandably cautious given the uncertain economic environment".