British fashion group Ted Baker’s Q2 revenue rose 3.4 percent.

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Image courtesy: theindustry.fashion

Ted Baker, the UK-based clothing retailer, said its second-quarter revenue rose 3.4 percent year over year.

The fashion group cited 20.4 percent higher same-store sales for the revenue growth.

However, compared to the second quarter of 2020, same-store sales were down 28.3 percent.

The retailer’s online revenue has been hit hard. Online revenue declined by 13.2% due to challenges arising from the launch of the new e-commerce platform.

Notably, Ted Baker shareholders will vote on a £211 million deal with Authentic Brands on September 29. 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 pounds

The London-based clothing retailer, known for its dresses, shirts and skirts with stunning details, generated £617.4 million in 2019.



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