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Ted Baker Christmas sales up 20%

Sales at Ted Baker surged 20.9% this Christmas, as the company ramped up its retail presence.

The UK and Europe performed particularly well, despite what Ted Baker described as a “competitive trading environment”.

Gross margins for the eight week period, between November 11 and January 5, were in line with expectations and there was no significant promotional activity pre-Christmas.

“The group has delivered a good result over the Christmas period,” said Ted Baker founder Ray Kelvin.

“We were pleased by the performance in markets where the brand is established and continue to build brand awareness in our newer markets, where we are investing for the longer term.”

Kelvin reiterated his plans to open a store in Shanghai in the first half of this year, continuing the business’ retail expansion.

Square footage is up 13.9% on the previous year to 273,340 sq ft, with new stores in Toronto, the brand’s first in Canada, and Terminal 3 of London’s Heathrow Airport.

The business will report its full year results in March, and said pre-tax profits would be in line with expectations.

Ted Baker’s Christmas statement also revealed that non-executive chairman Robert Breare has stepped down from his role with the company after 11 years, and will be succeeded by David Bernstein.

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