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Ted Baker: innovative product drives Christmas sales

Ted Baker said retail sales rose 19.1% year-on-year over the Christmas trading period and attributed the growth to its innovative product offer and customer focus.

The premium label said the UK business performed ahead of expectations during the period from November 1 to December 24, and ahead of space growth of 14.3%.Outside the UK, trading conditions were mixed.

Gross margins grew 2.5% year-on-year to match those achieved in 2007 as a result of a lower level of promotions.

Ted Baker said trading patterns in the new year have been similar to those over Christmas.

Ted Baker founder and chief executive Ray Kelvin said: “Trading continued to exceed our expectations in a very competitive environment.This performance is testament to our innovative product design, quality, attention to retail and excellent customer focus.

“The outlook for 2010 is again uncertain but we remain well placed to deal with the challenges ahead. Our collections continue to be positively received by our customers and the brand is well positioned globally to benefit when growth in consumer demand returns. We remain focussed on investing in the business through our multi-channel distribution strategy.”

Singer analyst Matthew McEachran said: “Although against a soft comparative, this is an excellent update. Core collections continue to be well received in most categories and we believe that the development of new ranges bodes well for brand appeal in future.”

Readers' comments (1)

  • It's great to see success like this and other Brands on the High Street after such a tough time last year! Ted certainly seems to get lots of things right!!

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