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Retailer Ted Baker’s profit rises on strong UK, Europe sales

Fashion retailer Ted Baker reported on Thursday a 4.4 percent rise in annual pretax profit, as retail sales surged in Britain and the rest of Europe by more than 10 percent.

The company, which trades from 490 stores and concessions globally, said group pretax profit rose to 61.3 million pounds ($76.5 million), with retail sales in its UK and Europe business rising 10.7 percent to 279.5 million pounds.

Total retail sales jumped 15 percent to 400.7 million pounds for the 52 weeks ended Jan. 28, while group revenues – including wholesale sales – were up 16.4 percent to 531 million pounds.

The company, which opened its first store in Glasgow in 1988, sells suits, shirts and dresses, often sporting quirky details, helping it to stand out from rivals.

Retail sales in its U.S. and Canada business jumped 28.3 percent to 103.4 million pounds, the company said.

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