Ted Baker retail sales up 18% over Christmas period
Fashion retailer Ted Baker reported a jump in retail sales over the Christmas period and said results for the year are likely to be in line with its expectations.
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In the eight-week period to 7 January, retail sales were up 17.9%, or 10.6% at constant currency, despite a backdrop of ongoing external factors, as highlighted in the interim results, continuing to impact trading across its markets.
E-commerce sales rose 35% from the same period last year, or 31% at constant currency, while average retail square footage was up 8.5% to 386,252 sq.ft.
Expansion continued, with further concession openings in China and, with its licence partners, the company’s first store in Bahrain and an additional store in Indonesia.
Ted Baker said gross margins were in line with its expectations and it expects to end the year with a clean stock position.
Founder and chief executive Ray Kelvin said: "Ted Baker has continued to perform well over the Christmas period against a tough trading backdrop. This result reflects the appeal of the brand and the quality of our collections as well as the talent and commitment of our team.
“The strength of the brand and our multiple channels of distribution leave us well placed to continue the development of Ted Baker as a global lifestyle brand."
At 0900 GMT, Ted Baker shares were up 2.2% to 2,705.99p.