Ted Baker announces 17.9 percent jump in retail sales

Ted Baker has announced a 17.9 percent or 10.6 percent constant currency increase in retail sales for the 8 week period from November 13, 2016 to January 7, 2017, compared to the same period last year. This good performance, the company said, was achieved despite a backdrop of on-going external factors continuing to impact trading across the company’s markets.

Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said in a statement, "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.”

Ecommerce sales increased by 35 percent and 31 percent on constant currency basis. Retail expansion continued during the period with further concession openings in China and, with the company’s licence partners, Ted Baker’s first store in Bahrain and an additional store in Indonesia. Ted Baker said, gross margins were in line with expectations and it expects to end the year with a clean stock position.

Picture:Ted Baker