‘Continued progress’: Online sales boost Ted Baker’s profits

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British fashion retailer Ted Baker on Thursday reported a 12.2 percent rise in its annual pretax profit amid strong results from online sales and in North America.

The group said its pre-tax profits in the year ending January 27, 2018 were up to £68.8m, up from £61.3m a year earlier. Retail sales in its UK and Europe business rose 7.7 per cent to £301.1m, while online sales jumped 39.8 per cent.

Ted Baker founder and chief executive, Ray Kelvin, cheered another year of “continued progress” as the group opened more stores in the UK and internationally.

However, the group added: “We anticipate that external trading conditions will remain challenging across many of our global markets.”