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Ted Baker’s sales grow 15.7%

Ted Baker increased group revenue by 15.7% for the 13 weeks to November 8, compared with the same period last year, as its international reach “mitigated the impact of localised economic or weather issues”.

Retail sales increased 12.7% (14.7% in constant currency) and the brand’s average square footage during the period rose by 9.5% to 329,321 sq ft as it opened new stores.

Stores were opened in Las Vegas and Toronto, and it also opened concessions in department stores in the US, the Netherlands, France, Spain, Portugal and South Korea.

Wholesale sales for the period increased 24.7% (25.4% in constant currency), particularly in the UK and US, although the brand declined to give specific figures. Growth in the wholesale business was driven by the continued success of international licence partners, especially in the Middle East.

Ted Baker said it expects group wholesale sales for the full year to be around 20% ahead of the last year.

Ecommerce sales increased 34.6% during the period, which was attributed to continued growth in the UK and the move to a new platform in the US in July.

Ray Kelvin, founder and chief executive, said: “Ted Baker is a global brand with strong international reach and this has helped mitigate the impact of any localised economic or weather issues. Further underlying growth and brand momentum has been delivered thanks to the quality of our product and the passion and dedication of our skilled team.

“The reaction to our autumn/winter collections across our international markets has been very encouraging and we have further store openings planned for the coming months in Miami and Heathrow Terminal 4, and a further outlet store in China.

“We are pleased with our strong performance to date. However, as ever, the Group’s full year results will be dependent on trading over the important Christmas period.”

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