Ted Baker posts strong sales growth
Fashion retailer Ted Baker grew its retail sales by 4.6%, or 5.1% at constant currency, in the 13 weeks to 11 November despite “challenging” trading conditions in some of its markets.
This helped total revenue to climb by 7.3%, or by 8% in constant currency, in the period.
Online sales increased by 30.5%, or by 31.3% in constant currency, and represented 19.2% of total retail sales.
Ray Kelvin, founder and chief executive of Ted Baker, said: "The business has continued to perform well and develop in line with our expectations, reflecting the strength of the Ted Baker brand and the quality of our collections.
“The group's continued growth in the period, despite challenging trading conditions across some of our global markets, has again been underpinned by our business model and the unwavering focus on product quality and design that are central to everything we do.”
Ted Baker increased its average retail square footage by 5.6% to 404,864 square feet during the 12 weeks. It also opened a new store in Oxford and further concessions in premium department stores in Canada, Germany and the UK.
Kelvin said customer reaction to its new Autumn/Winter collections had been positive. He added: “Whilst the group's full year results will, as ever, be dependent on trading conditions over the important Christmas period, we remain confident of meeting our expectations for the full year and continuing to develop Ted Baker as a global lifestyle brand."
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