Ted Baker revenues up 22.1%
Fashion retailer Ted Baker said its performance across all channels was strong as it reported a 22.1% increase in revenue in the 13 weeks to 10 November.
Retail sales rose 24.6% on the same period last year while average retail square footage increased by 13.7% to 269,942 sq ft.
The retailer said it was happy with its overall performance both in the UK and the rest of Europe. New concessions were opened in department stores in the Netherlands, Germany, Ireland and Spain and the retailer’s online business also performed well.
Ted Baker’s expansion into Asia continued with the opening of a first store in Beijing in China. In the US, the retailer opened further concessions through a leading department store.
Never Miss a Retail Update!Wholesale sales for the period were 14.2% above the same period last year reflecting continued growth in the US wholesale business and a good performance from the UK wholesale business. The retailer expects group wholesale sales for the full year to be 12% ahead of last year.
In a statement Ray Kelvin CBE, founder and chief executive said: “The group has delivered a good result over the period, in line with our expectations. We are very encouraged by the reaction to the brand and collections in our new markets where we are investing for the longer term development of the brand and further new store openings are planned for the coming months, including our first store in Toronto, Canada, further stores in Shanghai, China as well as a new store in Heathrow Terminal 3.
Whilst we are pleased with our performance to date, full year results will as always be dependent on trading over the key Christmas period.”
