Mail Online

Parties boost Ted Baker

TED Baker has cut its losses for the past year after the return of parties and office work boosted sales.

The figures come days after the fashion brand told shareholders it had picked its preferred suitor as part of a takeover battle expected to value it at more than £250m.

The retailer delivered a pre-tax loss of £44.1m for the year to January 29, compared with a £107.7m loss in the year prior.

This was driven by a 20.5pc increase in revenues to £428.2m as it benefited from the easing of Covid restrictions in some countries.

Chief executive Rachel Osborne said recent developments ‘give us confidence in Ted Baker’s future’.

Shares climbed 0.7pc.

CITY & FINANCE

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2022-05-27T07:00:00.0000000Z

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https://mailonline.pressreader.com/article/283012583362087

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