Ted Baker delivered a surge in retail sales over the festive period despite what the business called a “competitive trading environment”.
Retail sales rose 18.3% for the eight weeks to January 4, with the UK and Europe business performing well.
The company said gross margins were in line with expectations and there was no “significant promotional activity” before Christmas. Sales since Christmas have also been “particularly strong”.
Ecommerce sales were also robust, benefitting from the launch of its new UK ecommerce platform at the start of the period.
Ray Kelvin, founder and chief executive, said: “The group has delivered a strong result over the Christmas period in a competitive trading environment, reflecting the strength of the brand and quality and design of our product. We remain pleased by the brand’s performance in our established territories and continue to invest in newer markets for the long term development of Ted Baker as a global lifestyle brand.”
During the period average retail square footage rose by 10.9% to 303,174 sq ft. Internationally Ted Baker opened a new store in Hong Kong and its second store in Turkey.