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Ted Baker wholesale sales jump 76%

Premium brand and retailer Ted Baker saw wholesale sales surge 76.2% over the 13 weeks to November 13, while retail sales increased 8.6%.

Group sales jumped 20.7% over the period and Ted Baker said gross margins were in line with expectations.

The company increased its average retail square footage by 6.9% to 221,443 sq ft.  

Ted Baker said trading in the UK was strong and trading conditions in its overseas markets continued to improve, although this is against stronger sales comparatives in the second half of the financial year.

Wholesale sales for the period benefitted from the phasing of sales compared to last year. The company said there was an improved wholesale performance in the UK, which will result in wholesale sales for the full year being about 15% ahead of last year.

Ted Baker said it was encouraged by the performance of its recently opened stores in Taiwan, Kuwait, Abu Dhabi and Sydney.

In a company statement Ted Baker said: “The group’s results for the full year will be dependent on trading during the key Christmas period. Whilst we are mindful of the wider macro economic uncertainty we have been encouraged by trading in the second half of the year, reflecting the strength of the Ted Baker brand and collections.”

Ray Kelvin, Ted Baker founder and chief executive, said: “I am pleased by the group’s performance for the period with trading in our overseas markets being particularly strong. We continue to expand the Ted Baker brands in new and existing markets with new store openings announced during the period and further stores planned to open in Manchester, Paris and Hong Kong in 2011.”

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