Ted Baker posts 12.2% uplift in Christmas sales
Fashion retailer Ted Baker increased its retail sales by 12.2% in the five weeks to 5 January following a good performance at its stores and online.
Online sales rose by 18.7% and accounted for 25.7% of total retail sales compared to 24.3% in the same period in the previous year.
The company said its gross margins have remained in line with expectations for the full year.
Lindsay Page, Ted Baker acting chief executive, said: “The Ted Baker brand has delivered a good performance across both our stores and ecommerce business, despite the continuing challenging external trading conditions across our markets. This result again reflects the strength of the brand and the quality of our collections.”
The company’s average retail square footage rose by 5% to 429,576 square feet in the period.
Ted Baker also reported that it has now completed the acquisition of No Ordinary Shoes from Pentland.
Speaking of the investigation into the harassment claims aimed at Ted Baker founder and chief executive Ray Kelvin, the company said: “The work of the independent external investigation conducted by Herbert Smith Freehills LLP in respect of the recent media reports and petition is progressing and a further update will be made in due course.”
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