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Ted Baker posts strong Q3 results

Ted Baker saw group revenue rise 14.3% for the 13 weeks to November 10.

Retail sales for the period jumped 13.4% ahead of last year while wholesale sales were up 16.3%.

The company said that gross margins were in line with management expectations and added that the rise in wholesale sales should result in full year wholesale revenues being only slightly behind last year. The wholesale division has faced a difficult year as several of its customers struggled with trading.

The trading update was in stark contrast to Ted Baker's main rival French Connection, which issued a profit warning on Monday blaming poor high street sales in August and October for its difficulties.

Chief executive Ray Kelvin said: "We are pleased to report that we have received a very positive response from our customers to our autumn/winter collections and trading across the group has been in line with our expectations. We plan to open new stores in Brighton and Aventura Mall in Florida, in November and a further licensed store will open in Jakarta at the start of December. While the results for the full year will, as always, be dependent on trading in the Christmas period, the board remains confident of another successful outcome for the year."

Ted Baker said that product and territorial licenses continued to trade in line with expectations and that it was launching Ted baker branded mobile phones in conjunction with The Carphone Warehouse.

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