Ted Baker shares surge as fashion retailer surprises with Covid-19 online sales boost

Ted Baker, known for its suits, shirts, and dresses with quirky details, said online sales were significantly ahead of expectations and that increased social media engagement and targeted digital marketing had stimulated sales, in line with new CEO Rachel Osborne’s transformation plan. File photo: PA

Fashion retailer Ted Baker’s has performed better than expected, showing further signs of recovery under its new chief executive, sending its shares up by 13%.

The company was struggling before the coronavirus crisis, hit by a string of profit warnings, management changes and an accounting scandal since founder Ray Kelvin stepped down as CEO last year after misconduct allegations, which he denies.