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Sales soar at Ted Baker

Premium business Ted Baker saw group revenues rise 32.7% in the 20 weeks to June 15, on the back of strong performances both retail and wholesale.

Retail sales rose 30.7% compared with the same period last year, as retail square footage rose by 13.4%, although this month saw the closure of the Kings Road branch after the lease expired.

The business said ecommerce also “performed very well”, while international expansion kicked off with the opening of Ted Baker’s first concession in France, as well as further concessions opening in Spain and the Netherlands. An outlet in Shanghai and a concession in a Tokyo department store continued the business’ expansion in Asia.

New licensed stores opened in Adelaide, Beirut, and Kuwait, and there are planned openings in Abu Dhabi and Dubai.

On the wholesale side, sales were up 41%. The statement noted that growth was “positively impacted by the phasing of sales and we would anticipate full year growth to be slightly ahead of our initial expectations for the year of single digit growth”.

Gross margins were in line with last year.

Founder and chief executive Ray Kelvin said: “The group has delivered a very good result across all territories over the start of 2013. We are continuing to invest in developing the Ted Baker brand internationally and have been encouraged by the reaction to the brand and the collections in our new markets. Whilst as ever the outcome for the full year will be dependent on the second half, we remain very confident of our prospects.

Interim results for the 28 weeks ending August 10 will be published onOctober 3

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