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Author: Alan LittleDate: 2022-02-24

Ted Baker (TED) shares up 10% as sales soar in Q4

British luxury clothing retailer Ted Baker (TED) closed 10% higher in London after posting a strong Q4 report that resonated with investors on Wednesday.

Ted Baker (TED) shares jumped 10% in London in midweek after the British luxury clothing retailer said that a strong trading period over Christmas helped its sales to soar 35% during Q4.

In its latest financial update, Ted Baker said that the spread of the Omicron variant did hit demand at certain points during the four months to 22nd January, but that it was able to recover and deliver a healthy top line.

Sales growth almost doubled in Q4 compared to Q3, with the busy festive shopping season and then renewed interest in foreign travel both helping the company to shift more clothing items.

Looking ahead to fiscal 2023, Ted Baker said that its EBITDA margin will come in at around 7%-10%, while free cash flow will amount to around £30m.

The firm has already seen improvements in its trading margin in recent months thanks in part to an 18% uptick in full-price sales in Q4 compared to a year ago.

In a statement, chief executive officer Rachel Osborne said that the improvements were indicative of Ted Baker’s “premium brand positioning” and “good progress” with its internal transformation.

Osborne noted that product availability was a challenge in Q4 due to the supply chain issues that have plagued many other retailers.

Ted Baker believes that this will be short-lived and is already finalising plans to bring three stores to the UK per year through to 2025.

Osborne also said that its new Spring/Summer 2022 collection had launched to a “strong initial reaction”, which bodes well for the coming months.

Investors were enthused by Ted Baker’s showing on Wednesday as its shares closed 9.78% higher at 96.55p on the London Stock Exchange.

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