Ted Baker revenue boosted by strong wholesale performance
British designer clothing brand Ted Baker has reported a 15.2% increase in group revenue for the 19 weeks to 30 January 2011. Retail sales for the period were 9.4% above the same period last year and wholesale sales were up 42.1%.
The retailer attributed the increase in wholesale sales to the continuing growth of its US wholesale business and a good performance from the UK business. As a result, it said it expected wholesale sales for the full year to be around 10% ahead of last year.
Commenting on trading, Ray Kelvin CBE, founder and chief executive said: "The group has made a good start to 2011. Our collections have been well received across our international markets as we continue to expand the brand into new territories. Looking forward into the second half of the year we plan to open new stores in the UK, New Zealand, China and America, whilst maintaining our focus on design, quality and attention to detail which underpin the core strengths of the Ted Baker brand."
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