Ted Baker sales up 4.2% despite impact of weather
Fashion retailer Ted Baker saw its group revenue climb by 4.2% year-on-year in the 19 weeks to 9 June despite trade being impacted by unseasonal weather across Europe and the American east coast in the early part of the period.
Total retail sales edged up 0.7% as the company’s average retail square footage rose by 5.7% to 420,799 square feet.
Online sales climbed by 33.6% in the period while wholesale sales were up 14.2% following a good performance at Ted Baker’s UK and North American businesses and the earlier timing of wholesale deliveries.
The retailer said its product and territorial licensees continued to perform well and that it was particularly pleased with the performance of product licences within its childrenswear, eyewear, lingerie and suiting categories.
Both retail and wholesale gross margins were in line with expectations.
Ray Kelvin, founder and chief executive of Ted Baker, said: “We are pleased with the customer responses to our collections as well as the brand’s continued expansion across each of its distribution channels.
“We have made significant investment in our flexible business model to ensure that the Ted customer has multiple channels to engage with the brand. Our global ecommerce business continues to grow very strongly and is complemented by our unique stores and digital and social selling strategy, which showcase the brand to our customers.
“Despite an uncertain consumer outlook, we are well positioned to continue Ted Baker’s long-term development.”
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