Ted Baker reports strong revenue growth
Fashion brand Ted Baker has increased its group revenue by 11.3% in the 19 weeks to 11 June as it continues its international expansion.
Retail sales for the period climbed by 12.7% as average retail square footage rose by 9.7% to 379,254 square feet.
International expansion continued with successful store openings in Beijing, Ottawa and Seattle, and further concession openings in premium department stores in China, France, Germany, Japan and Spain.
Online sales increased by 32.3%, reflecting continued growth across the retailer’s e-commerce sites. During the period, Ted Baker launched its first language specific website in Germany.
Meanwhile, wholesale sales grew by 7.3% boosted by a strong start to the season for Ted Baker’s North American wholesale business.
Ray Kelvin, Ted Baker founder and chief executive, said: “These results demonstrate the strengths of the brand. Underpinned by our unwavering focus and passion across all of our products and distribution channels, the talent and dedication of our global teams continue to execute our multi-channel growth strategy. We are very pleased with the response from our customers over this period and remain well positioned to deliver our expectations for the full year.”
