Ted Baker reports strong revenue growth
Ted Baker saw its group revenue rise by 15.7% year-on-year in the 13 weeks to 8 November as the fashion brand made further inroads in international markets.
Retail sales in the period grew by 12.7%, or by 14.7% in constant currency, as the average retail square footage rose by 9.5% to 329,321 square feet.
The company continued its international expansion with store openings in Las Vegas and Toronto, and further concession openings in premium department stores in the US, the Netherlands, France, Spain, Portugal and South Korea.
E-commerce sales rose by 34.6%, reflecting continuing growth in the UK and the successful migration of the company’s US site to the new platform in July.
Never Miss a Retail Update!Wholesale sales for the period increased by 24.7%, or by 25.4% in constant currency. The company now expects wholesale sales for the full year to be around 20% ahead of last year on a reported basis.
Ted Baker founder and chief executive Ray Kelvin said: “Ted Baker has continued to deliver a strong performance as we have made further progress across our global markets and distribution channels.
“The reaction to our Autumn/Winter collections across our international markets has been very encouraging and we have further store openings planned for the coming months in Miami and Heathrow Terminal 4, and a further outlet store in China.
“We are pleased with our strong performance to date. However, as ever, the group’s full year results will be dependent on trading over the important Christmas period.”
