Revenues surge by 33% at Ted Baker
High street fashion retailer Ted Baker saw its group revenue increase by 32.7% in the 20 weeks to 15 June as the company continued to invest in the longterm development of its brand.
Retail sales rose 30.7% on the same period last year while the company’s average retail square footage increased by 13.4% to 295,769 sq ft.
In a statement the company said: “We are delighted with this performance which is reflected across all the territories in which we operate. Our e-commerce business has also continued to perform very well.”
In the UK, Ted Baker opened an accessories store at Gatwick Airport’s north terminal while international openings included a first concession in France and additional concessions in Spain and the Netherlands. The company also continued its expansion into Asia by opening both a store and outlet in Shanghai, and a concession through a leading department store in Tokyo.
Ted Baker said its product and territorial licences continued to perform well with new licensed store openings in Adelaide, Beirut, and Kuwait, and planned openings in Abu Dhabi and Dubai.
Wholesale sales for the period were 41% above the same period last year.
Commenting on the trading, founder and chief executive Ray Kelvin said: “The group has delivered a very good result across all territories over the start of 2013. We are continuing to invest in developing the Ted Baker brand internationally and have been encouraged by the reaction to the brand and the collections in our new markets. Whilst as ever the outcome for the full year will be dependent on the second half, we remain very confident of our prospects.
“We are committed to the quality, design and attention to detail of our product and our performance demonstrates the true passion, commitment and strength of our team."
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