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Sales up at Ted Baker

Group revenue at Ted Baker increased 4.2% year on year in the 19 weeks to 9 June, despite unseasonal weather at the beginning of the season.

Total retail sales including ecommerce increased by 0.7% for the period and average retail square footage rose by 5.7% to 420,799 sq.ft.

Online sales were up by 33.6%, while wholesale sales for the period increased by 14.2%, reflecting both a good performance from its UK and North American businesses and the earlier timing of wholesale deliveries.

The business said it continues to anticipate achieving at least high single digit growth in constant currency in the wholesale business for the full year.

Both retail and wholesale gross margins were in line with expectations.

Ray Kelvin, founder and chief executive said: “We have made significant investment in our flexible business model to ensure that the Ted customer has multiple channels to engage with the brand. Our global ecommerce business continues to grow very strongly and is complemented by our unique stores and digital and social selling strategy, which showcase the brand to our customers.

“The group’s continued progress and growth is a reflection of the design and quality of our collections, as well as the sustained appeal of the Ted Baker brand. These strengths, along with our business model and the passion, skill and commitment of our team mean that, despite an uncertain consumer outlook, we are well positioned to continue Ted Baker’s long-term development.”

 

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