Ted Baker saw group revenue increase by 24.2% for the 18-week period to June 6, with retail sales up by 18.9% and wholesale sales up by 41.2%.
The lifestyle brand opened its first street-level store in Hong Kong’s Causeway Bay and a store for its licensed products called Ted Baker & Moore in Spitalfields, east London during the period. It added concessions in the UK, France, Germany, the Netherlands, North America, China and Japan.
Online sales increased 49.5%, reflecting growth in the UK and a strong performance from the US site, which moved to a new platform in July last year. There was an “encouraging” contribution from its Canadian site, which opened at the end of 2014.
Wholesale sales are strong in both the UK and North America, with the latter in particular benefitting from a strong start to the season and changes to buying patterns, which brought forward some orders. Ted Baker expects full-year wholesale growth of 18%.
Both retail and wholesale gross margins were in line with expectations, broadly in line with last year.
Licensed stores opened in Azerbaijan, Dubai, Qatar, Saudi Arabia, Thailand and Taiwan during the 18-week period.
Founder and chief executive Ray Kelvin said: “The Ted Baker brand continues to perform very well and we have delivered further progress across our global markets and distribution channels.We are pleased with the performance of our spring/summer collections both in the UK and internationally, which is a testament to our skilled and passionate team.”