Ted Baker continues growth

British fashion group Ted Baker plc saw its sales climb 13 per cent to GBP 70.2m for the financial year ended 26 January 2003. The company's pre-tax profit amounted to GBP 9.5m.

The company said these results were better than expected and that the cause for this is the new flagship store in London's Covent Garden and the company's activities abroad. The Ted Baker brand is distributed through wholesale, by several licensing partners as well as its retail network comprising 19 stores in the UK, one outlet in Paris and three in the US.

Chief executive Ray Kelvin sees great potential for growth and is striving to make Ted Baker into a global brand. Top priority is being given to expansion on the US market. Last year stores were opened in Miami and San Jose.

The Ted Baker store in New York was opened five years ago and the company plans to open two more stores in the US this year. As of now there are no expansion plans for the European market.

Ted Baker Womenswear continued its rapid growth, with sales for the period rising 16.1 per cent to GBP 30.4m. Menswear increased 12.6 per cent to GBP 35.9m.