British fashion group Ted Baker’s Q2 revenue rises by 3.4%
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Ted Baker, the apparel retailer based in the UK, has seen its second-quarter revenue go up by 3.4 per cent year-on-year.
The fashion group has attributed the revenue growth to strong store sales that rose by 20.4 per cent, even as people returned to high streets to buy apparels in the said period.
However, compared to the second quarter in 2020, the store sales were 28.3 per cent lower.
The retailer’s online revenue was hit significantly. Owing to challenges following the launch of its new e-commerce platform, the online revenue dipped by 13.2 per cent.
Notably, Ted Baker shareholders will vote on the £ 211 million deal with Authentic Brands on 29 September. The transaction is expected to close in the fourth quarter of this year.
Also Read: Authentic Brands Group agrees to buy Ted Baker for £ 211 million
The London-based clothing retailer, known for its suits, shirts and dresses with quirky details, generated £ 617.4 million in 2019.
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