Ted Baker’s group revenue increased 14.8% year on year in the 13 weeks to 12 November “despite the challenging trading conditions”.
Retail sales for the period increased by 15.4% (6.7% in constant currency). Ecommerce sales increased by 30.3% (25.9%), representing 15.6% of total retail sales.
Ted Baker’s international expansion continued during the period, with stores opening in Atlanta, Miami and Calgary, and new concessions in premium department stores in China, Germany, Japan and Spain.
It also relocated its New York Soho store and one of its Hong Kong stores, while licensed stores opened in Dubai, South Africa and Mexico.
Wholesale sales increased 13.2% (6.7%), reflecting good performances from both the UK and North American businesses. Both retail and wholesale gross margins were in line with expectations.
Ted Baker founder and chief executive Ray Kelvin said: “The brand continues to perform well despite challenging trading conditions and we remain focused on the long-term development of Ted Baker as a global lifestyle brand.
“Our continued growth and development reflects the strength of the brand, our business model and our unwavering focus on product quality and design, underpinned by the skill, innovation and passion of our teams globally.”
The reaction to our collections has been very encouraging, however, the group’s full-year results will, as always, be dependent on trading conditions over the important Christmas period.”