Ted Baker posts sales up 11.3%
Ted Baker has posted an 11.3% rise in group revenue for the 19-week period from 31 January 2016 to 11 June 2016. The global fashion and lifestyle brand achieved strong growth across all major channels; digital, retail and wholesale.
Retail sales increased by 12.7% and average retail square footage rose by 9.7% to 379,254 sq ft (2015: 345,839 sq ft). This performance was achieved "in the context of challenging external trading conditions", the group said. Its international expansion has continued apace with recent successful store openings in Beijing, Ottawa and Seattle, and further concession openings in premium department stores in China, France, Germany, Japan and Spain.
E-commerce business continued to perform well with sales increasing 32.3%. During the period in question, Ted Baker launched its first language specific website in Germany and claims to be been "very pleased with its performance at this early stage".
Wholesale sales for the period increased by 7.3%. North American wholesale enjoyed a strong start to the season however UK wholesale was impacted by the timing of some deliveries but the group still anticipates achieving "low double-digit growth" in the wholesale business for the full year.
Ted Baker menswear SS16
Chief executive Ray Kelvin said the performance demonstrated the strength of the Ted Baker brand, adding: "We are very pleased with the response from our customers over this period and remain well positioned to deliver our expectations for the full year."
Ted Baker has 465 stores and concessions worldwide, comprising 185 in the UK, 97 in Europe, 104 in the US and Canada, 70 in the Middle East and Asia and nine in Australasia.
The brand offers a wide range of collections including: menswear; womenswear; childrenswear; homewares; eyewear; footwear; fragrance and skincare; gifting and stationery; jewellery; lingerie and sleepwear; luggage; and watches.
