Ted Baker posts 20.5% increase in revenue
British high street fashion brand Ted Baker on Thursday reported a 20.5% year-on-year increase in group revenue in the 13 weeks from 16 August 2015 to 14 November 2015.
Retail sales rose by 18.1%, benefiting from the customer event at the end of the period, and average retail square footage rose by 7.0% to 352,382 sqft. The company's e-commerce business also benefited from the customer event and rocketed 74.3%. Ted Baker said the good results were achieved despite a more challenging trading environment in some of the brand's international markets.
Strong performances from the UK and North American businesses helped wholesale sales rise by 27%, and Ted Baker now expects Group wholesale sales for the full year to be approximately 28% ahead of last year on a reported basis. During the period, Ted Baker undertook licensed store openings in Singapore and Taiwan and licensed concession openings in Kuwait and Mexico.
Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive 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."
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