Ted Baker reports strong Christmas sales
Fashion retailer Ted Baker has reported that its retail sales increased by 22.8% year-on-year in the eight weeks to 3 January.
E-commerce sales rose by 65.7% which was a reflection of continuing growth in the UK and a strong performance in the US following the migration of the retailer’s US website to a new platform in July 2014.
The retailer said gross margins were in line with expectations and, as in previous years, there was no significant promotional activity before Christmas.
During the period Ted Baker opened a new store in Heathrow Terminal 4, relocated its Birmingham store to the Bullring and launched two new licensed stores with its partners in Saudi Arabia and Abu Dhabi.
Never Miss a Retail Update!Average retail square footage rose by 9.2% over the period to 331,208 square feet.
Ted Baker founder and chief executive Ray Kelvin said: “The group has delivered a great performance over the Christmas period across our global markets and distribution channels.
“Further underlying growth and brand momentum has been delivered as a result of our unswerving focus on product quality and the passion and dedication of our skilled team. We will continue to invest in people and infrastructure as we expand the Ted Baker brand globally.”
