Ted Baker’s sales surge as international expansion continues
Ted Baker saw its group revenue increase by 20.5% year-on-year in the 13 weeks to 14 November despite a challenging environment in some of its international markets.
Retail sales for the period rose by 18.1% as the company grew its average retail square footage by 7% to 352,382 square feet.
Ted Baker’s international expansion continued with store openings in Stansted Airport, Amsterdam, Hawaii, Malibu and Toronto, and further concession openings in premium department stores in Germany, Ireland, Spain, North America and South Korea. Online sales climbed by 74.3%.
Wholesale sales for the period increased by 27% or by 25.1% in constant currency due to strong performances in both the UK and North American businesses. The company expects wholesale sales for the full year to be approximately 28% ahead of last year.
Ted Baker founder and chief executive Ray Kelvin said: “Ted Baker has continued to perform very well with further development of the brand internationally and across distribution channels.
“Underpinned by the skill and dedication of our team across the world, our unwavering focus on product quality and design, and our continued investment across the business, we remain fully focused on the long-term growth of Ted Baker as a global lifestyle brand.
“The reaction to our Autumn/Winter collections has been very encouraging, however, the group’s full year results will be dependent on trading conditions over the important Christmas period.”
