Ted Baker defies tough market with sales up 7.3%

Ted Baker defied the subdued autumn trading market with a 7.3% growth in sales in the quarter ending 11 November and its board says it is confident of hitting its full-year expectations.

Retail sales during the period were up 4.6% while e-commerce was up 30.5% and represented 19.2% of total retail sales. Average retail square footage rose by 5.6% to 404,864 sq ft and new stores were opened in Oxford, with further concessions in premium department stores opened in Canada, Germany and the UK. It also added an outlet store in Chicago and relocated its Bicester outlet.

Wholesale was also strong, up 14.2%, which the brand said reflected a strong performance in the UK and North America and it is now anticipating low double-digit wholesale sales growth (in constant currency) for the full year. Licensing continued to perform well with further licensed stores opening in Kuwait and Qatar.

The business said that its full-year performance would be dependent upon the crucial Christmas trading period but its said it remained confident of "making further progress and meeting full-year expectations".

"The business has continued to perform well and develop in line with our expectations, reflecting the strength of the Ted Baker brand and the quality of our collections.

"The group's continued growth in the period, despite challenging trading conditions across some of our global markets, has again been underpinned by our business model and the unwavering focus on product quality and design that are central to everything we do.

"The reactions to our Autumn/Winter collections have been positive. Whilst the group's full year results will, as ever, be dependent on trading conditions over the important Christmas period, we remain confident of meeting our expectations for the full year and continuing to develop Ted Baker as a global lifestyle brand," said founder and CEO Ray Kelvin.