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Ted Baker sees sales rise

Ted Baker saw sales rise 7.6% for the 19 weeks to June 12, with margins in line with company expectations.

Ted Baker said retail sales for the period had advanced 15.2%. The average retail square footage rose by 17.1% to 202,206sq ft against the same period last year.

“The economic environment remains uncertain, however, we remain confident that the strength of the Ted Baker brand coupled with our resilient multi-channel distribution strategy and sound balance sheet will enable the group to weather this difficult environment.”

Ray Kelvin, chief executive, Ted Baker

Ted Baker said UK retail performance had been better than anticipated but that overseas store trading had remained challenging.

Wholesale sales for the period fell by 15.7%. Ted Baker said that this was due to several factors including tougher trading conditions for its wholesale customers, the conversion of some wholesale accounts to company-owned retail concessions and the brand’s ongoing strategy to clean up distribution with the closure of “unsuitable” accounts.

Ted Baker founder and chief executive Ray Kelvin said: “The economic environment remains uncertain, however, we remain confident that the strength of the Ted Baker brand coupled with our resilient multi-channel distribution strategy and sound balance sheet will enable the group to weather this difficult environment.”

Kelvin added: “We have taken action to ensure our costs and commitments remain controlled and in line with the trends we anticipate for 2009 but will continue to invest carefully in the development of the brand where appropriate to support long term growth.”

 

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