Ted Baker reports strong Christmas sales
Fashion brand Ted Baker said retail sales rose 15.7% in the eight weeks to 7 January compared to the same period a year before. This was despite there being no significant promotional activity before Christmas.
The group said it had increased its average retail square footage by 7.3% over the period to 240,001 sq ft and further developed its international presence through wholesale, licensing and new retail stores and concessions.
Sales since Christmas have remained strong and the group expects to end the season with a clean stock position.
This year the group plans to open a new store on New York’s Fifth Avenue and its first stores in Tokyo and Beijing. It will also open a new London shop in Brompton Road.
Profit before tax for the current financial year, which ends on 28 January, is expected by the board to be in line with expectations.
Commenting on the trading, Ray Kelvin, founder and chief executive said: “The group has delivered an excellent result over the Christmas trading period. In a challenging trading environment, this performance is a testament to the strength of the Ted Baker brand, our collections and people.
“Whilst we are very mindful of the wider macro-economic uncertainty, we remain focused on the strategic development of the brand.”
