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Ted Baker Sales Jump as Return-to-Office Wave Spurs Demand for Formal Wear

Shoppers walk past a Ted Baker store on Regents Street in London, Britain December 17, 2018. REUTERS/Simon Dawson
Shoppers walk past a Ted Baker store on Regents Street in London, Britain December 17, 2018. REUTERS/Simon Dawson
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Ted Baker Sales Jump as Return-to-Office Wave Spurs Demand for Formal Wear

Shoppers walk past a Ted Baker store on Regents Street in London, Britain December 17, 2018. REUTERS/Simon Dawson
Shoppers walk past a Ted Baker store on Regents Street in London, Britain December 17, 2018. REUTERS/Simon Dawson

British fashion chain Ted Baker reported higher sales and a smaller loss for the first half of the year on Thursday, as it navigates a bumpy recovery from the pandemic.

Demand for formal and occasion wear pushed group revenues up nearly 18% year-over-year in the 28 weeks to Aug. 14, the company said, as rising vaccinations in Europe and America drove many back to offices.

"Occasionwear has seen a strong pick-up across men's and women's collections," Chief Executive Rachel Osborne said in a statement, adding that sales of formal wear and suiting had also risen.

Osborne has been steering the upmarket retailer through a three-year turnaround strategy focused on cost cuts, refreshing its product range and boosting its online presence.

Group revenues were, however, still down 36% compared to pre-pandemic levels in 2019. Ted Baker said the pace of the recovery had been uneven as the pandemic continues to affect footfall at retail stores.

The company did not provide annual financial forecasts but said it was "comfortable" with analyst expectations for the current financial year.

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Dolce&Gabbana Unveils Luxury Boutique, Café at Bujairi Terrace in Saudi Arabia’s Diriyah

The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA
The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA
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Dolce&Gabbana Unveils Luxury Boutique, Café at Bujairi Terrace in Saudi Arabia’s Diriyah

The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA
The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA

Dolce&Gabbana, the Italian luxury fashion brand, opened a new 1,500-square-meter luxury center in Saudi Arabia’s Diriyah, The City of Earth, featuring a boutique and café, DG Caffè. The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage, enhancing the vibrant atmosphere of Bujairi Terrace—Diriyah's premier fine dining destination and a centerpiece of Diriyah Company's urban development project.

Dolce&Gabbana collections—including clothing, accessories, fine jewelry, watches, beauty, and home decor--are showcased on bespoke displays framed by a dynamic ceiling system that amplifies the sense of space. The boutique features an exclusive Abaya section, showcasing Dolce&Gabbana's dedication to honoring and celebrating local cultural traditions.

Drawing inspiration from Italy’s rich culinary tradition, DG Caffè at the heart of the boutique features a carefully curated menu tailored to Saudi tastes.

"We are excited to unveil Dolce&Gabbana's new boutique and café that will add an additional touch of luxury to the vibrant setting of Bujairi Terrace, our premier dining and retail destination,” said Diriyah Company group chief executive Jerry Inzerillo.

“As we progress on our journey to create the world’s greatest gathering place and a center point of cultural tourism—one that will feature more than 1,000 retail outlets and dining concepts spanning 566,000 square meters—we invite global business partners to join us on this remarkable journey," Inzerillo said.

Since its opening, Bujairi Terrace and the UNESCO World Heritage Site of At-Turaif have welcomed over 2 million visits, with tourists and locals alike drawn to world-class cultural, dining, and retail experiences in a historic setting.

Diriyah is a city within a city and a premier live-work-play destination that will be home for over 100,000 residents. Under transformation by Diriyah Company, Diriyah is projected to attract 50 million annual visits by 2030, driven by its world-class living, retail, hospitality, and cultural offering that will serve as a benchmark for future retail and lifestyle development.