The British clothing retailer Ted Baker Plc significantly improved its sales in the final quarter of the 2021/22 financial year. In the twelve weeks ended Jan. 29, sales were 28.3 percent above the level of the prior-year quarter, which included 13 weeks of sales, the company said in an interim statement on Wednesday. On a comparable basis – i.e. adjusted for the effect of the additional sales week in the past year – sales rose by 35.2 percent.
“We continue to make good progress on our transformation and are pleased that despite the impact of Omikron on the quarter, we were able to increase consolidated revenue by 35 percent year-on-year,” said CEO Rachel Osborne. She also highlighted that the apparel retailer was able to improve its margins and increase the share of non-discounted items in its sales.
However, Ted Baker was far from the pre-crisis level: sales fell by 28.6 percent compared to the fourth quarter of 2019/20. The company explained that recovery tendencies in its own retail trade were interrupted from the end of November by the effects of the Omicron wave on demand.
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