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Ted Baker plans £45 million expansion after profits surge

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Fashion chain Ted Baker posted a leap in annual profits as online sales surged and the group opened more stores.

The retailer – which has 448 stores and concessions worldwide including 185 in the UK – said underlying pre-tax profits rose by 18.6% to £58.7 million in the year to January 30.

Sales rose 8.9% across the UK and Europe, or 10.7% with currency movements stripped out, while online sales jumped 40.5% to £46.8 million across the region.

Ted Baker secured the sales hike despite last year’s unusually warm weather in the run up to Christmas, which hit many of its clothing rivals.

It said in January that festive sales rose 10.1% as it was able to hold off from the significant discounting seen elsewhere on the high street.

We are pleased by the initial reaction to our spring/summer collections, which has been positive. Trading is in line with our expectations, with the exception of Asia.” – Ray Kelvin, chief executive and founder of Ted Baker

Ted Baker – which branched out from selling colourful shirts to include menswear, womenswear and fragrances – added in its annual results that its latest spring/summer collections have also been well received.

But it said the group has not been immune to the woes in Asia where the China slowdown has been impacting trading and continues to be “challenging”.

Ray Kelvin, founder and chief executive of Ted Baker, said: “We have again traded very well – despite an uncertain backdrop in some of our markets – which is testament to the strength of the Ted Baker brand.”

On trading since its year-end, he added: “We are pleased by the initial reaction to our spring/summer collections, which has been positive. Trading is in line with our expectations, with the exception of Asia.”

The group expanded worldwide over the past year, while also opening its first stores in Amsterdam, Azerbaijan, Hawaii, Mexico and Qatar.

It plans to add extra outlets over the new financial year and further grow burgeoning online sales, which now account for 15.4% of retail turnover.

Retail experts at Liberum said Ted Baker has “closed another year of excellent progress”.

“The company’s strength is that it consistently delivers growth well head of the sector,” they added.

Ted Baker was set up by Mr Kelvin as a shirt specialist in a single Glasgow store in 1988.

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Business

Trump Comments on Stock Market’s latest drop – says it’s ‘peanuts’

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Trump says Tuesday’s market drop is ‘peanuts’

President Donald Trump played down the stock market’s losses on Tuesday as “peanuts” when compared with the importance of striking a good deal with China and the gains since his election.

The Dow Jones Industrial Average “was about 16,000 or 15,000 and now it’s almost at 30,000,” Trump said at the NATO summit in London. “It’s going to be at 30,000.”

“If the stock market goes up or down — I don’t watch the stock market. I watch jobs. Jobs are what I watch,” he added. Today’s move is “peanuts compared to — we have picked up record numbers so that’s OK. That’s the way I feel.”

The major stock indexes slid Tuesday after Trump said he thinks it would be a good idea to delay signing a trade deal with China after the 2020 presidential election. The Dow Jones Industrial Average fell more than 450 points at its lows on Tuesday, led lower by trade-vulnerable AppleCaterpillar and 3M.

“In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now, and we will see whether or not the deal is going to be right,” Trump told reporters before U.S. markets opened Tuesday. When asked if he had a deal deadline, he added: “I have no deadline, no. … In some ways, I think it is better to wait until after the election if you want to know the truth.”

Despite his assurances that he doesn’t watch the market’s daily moves, Trump often tweets within hours of when the U.S. equity market reaches an all-time high. He has tweeted the keyword “stock market” 107 times since his inauguration

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11 kids quotes we’re all feeling

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Ok so there’s always that time when you just wish so bad you could straight up say whats on your mind, but you know you really shouldn’t, so you don’t. Well leave it up to kids to say exactly what you’re feeling, no hesitation or regret. Check out these kids quotes that say everything you wish you could!

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THIS IS A WHOLE (FOOD) MOOD.

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Saturday savagery (submitted anonymously) #savage

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Why do kids say the darndest things? Comment with your favorite!

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How to become a better businessman in 6 steps; Priceless advice from Entrepreneurs

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Become a better businessman in 6 steps following this priceless advice from accomplished entrepreneurs.

  1. “Do something you’re very passionate about, and don’t try to chase what is the hot passion of the day.”

    Jeff Bezos accentuates having passion for what you are doing, because if you don’t love it you are much more likely to give up. It’s hard to take an idea and turn it into reality, especially by yourself or when people whom you respect tell you it can’t be done. The passion and love you give to your project will determine it’s success rate over time.

    Jeff Bezos Become a better businessman

  2. “Don’t let people who you may respect and who you believe know what they are talking about tell you that it can’t be done.”

    Pierre Omidyar continues to say that often they will tell you it can’t be done and that’s only because they don’t have the courage to try it.

    Pierre Omidyar become a better businessman

  3. “If you know exactly who you want to be, you need to spend as much time [as possible] with people that are actually that already.”


    This advice from Gary Vaynerchuk is actually priceless when it comes to success in the business world. Think as well “It’s not what you know but who you know,” and surround yourself with people you look up to. Human’s adapt to their surroundings quickly, and soon you won’t just want to be an entrepreneur, you will also know how to act like one.

    Gary Vaynerchuk

  4. “Come up with 10 new ideas every day.”


    Coming up with at least 10 new ideas every day will keep your “idea muscle” in shape, which is critical for an entrepreneur in order to keep going and stay ahead of the fast paced business world. James Altucher continues to say that once you’ve done this for about 6 months you will be an idea machine. New ideas keep passionate projects alive and ensure growth in every direction.

    Read Next: Working for yourself; Pros and Cons

    James Altucher become a better businessman

  5. Realize that, “naturally, nobody is interested in your ideas. You have to persuade them, and you have to show them that you are the one person out there that can do it.”



    Robert Greene, an American author known for his books on strategy, also says that “no one is really going to help you or give you direction.” Realizing this sooner than others will give you a head start and the ability to stop looking for recognition in others. Instead, you can focus on your passion project and make it perfect, and the world will not be able to ignore it.


    Robert Greene


    More about ‘Mastery’ by Robert Greene

  6. “Don’t think about ‘how do I get big fast.’ That will happen if you build something meaningful and important.”




    How to encourage teamwork in your organisation


    Danae Ringelmann’s advice is not something to skip. If you rush your ideas or your product you will be relying on luck more than anything to create success for you. While luck is certainly involved in alot of things, relying on it or betting on it to ‘get big fast’ doesn’t help you become a better businessman. Being proud of what you create, instilling passion into your work, and working hard will ensure success more than anything.


    danae ringelmann

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