Ted Baker reports 24.2% revenue growth
Ted Baker has reported a 24.2% increase in group revenue in the 18 weeks to 6 June after the fashion retailer achieved a strong performance across its global markets and distribution channels.
Retail sales climbed by 18.9% year-on-year as Ted Baker continued to invest in developing brand awareness in newer markets. It also opened its first street level store in Hong Kong as well as a Ted Baker & Moore store in London’s Spitalfields.
Meanwhile, e-commerce sales increased by 46.9% following growth in the UK and a “good” performance from the brand’s US site.
Wholesale sales for the period climbed by 41.2%
Ted Baker founder and chief executive, Ray Kelvin, said: “The Ted Baker brand continues to perform very well and we have delivered further progress across our global markets and distribution channels.
“We are pleased with the performance of our Spring/Summer collections both in the UK and internationally, which is testament to our skilled and passionate team. Commitment to quality, design and attention to detail underpins everything we do and we remain focused on our strategy to develop Ted Baker as a global lifestyle brand.”
