Ted Baker recorded a 25% drop in wholesale sales over the 13 weeks to November 14, while retail sales climbed 19.8% over the period.
Wholesale sales fell back by 25% as Ted Baker closed a number of wholesale accounts and transfered some wholesale accounts to retail concessions, against a tough trading backdrop.
The Ted Baker retail division performed better than anticipated in the UK, while trading conditions in overseas markets were more difficult.
Total sales at Ted Baker jumped 8.2% over the 13 weeks, and gross margins were in line with expectations.
Ted Baker, founder and chief executive, Ray Kelvin said: “I am pleased with the Group’s performance. Reactions to our autumn winter collections have been positive and we have been pleased with our customer’s response to Born by Ted Baker, our highly designed men’s casualwear collection which was launched in August.”
Ted Baker increased retail square footage over the period by 15% to 207,150 sq ft. Ted Baker opened three stores over the period in Heathrow Airport, Boston, USA and Melbourne, Australia.
The company added in a statement: “Although we continue to trade ahead of our expectations, as always the results for the full year depend upon the key Christmas trading period. The brand is well positioned, and with a strong balance sheet we will take advantage of opportunities as they may arise.”
Ted Baker said that product and territorial licenses continue to trade in line with expectations and that the business continue to consider further opportunities to develop the brand in North America.