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China and US top Ted Baker’s hit list as booming sales fuel global retail ambitions

Premium retailer Ted Baker is to join the wave of British companies heading to China with plans to open its first store in Beijing in September.

Ted Baker said it would open a string of stores in new territories including New Zealand, China and the US in the remainder of its financial year after it notched up a strong first-half performance.

Group revenues jumped 15.2% in the 19 weeks to June 11 while wholesale sales soared 42.1% thanks to a strong performance in the UK and continued growth in the US.

It forecast that the wholesale business, comprising some 1,000 global stockists, would be 10% up on last year over its full financial year.

Retail sales saw a 9.4% increase in the first half despite a subdued start to the year. Sales of men’s and women’s formalwear as well as dresses were strong.

Ted Baker has 278 stores and concessions globally, 185 of which are in the UK.

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