Ted Baker posts 11.3 percent rise in revenues

Ted Baker has reported an 11.3 percent increase in Group revenue for the 19 week period from January 31, 2016 to June 11, 2016, compared to the same period last year. Retail sales for the period under review increased by 12.7 percent or 10.3 percent in constant currency and average retail square footage rose by 9.7 percent.

Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said, "These results demonstrate the strengths of the brand. We are very pleased with the response from our customers over this period and remain well positioned to deliver our expectations for the full year.”

Retail sales rise driven by international expansion

The company opened new stored in Beijing, Ottawa and Seattle with further concession openings in premium department stores in China, France, Germany, Japan and Spain. E-commerce business too performed well with sales increasing 32.3 percent, reflecting continued growth across e-commerce sites. During the period, Ted Baker launched its first language specific website in Germany.

Wholesale sales for the period increased by 7.3 percent or 5.6 percent in constant currency. North American wholesale business enjoyed a strong start to the season and continues to perform well, however, performance of the UK wholesale business was impacted by the timing of some deliveries. But the company continues to anticipate achieving low double digit growth in the wholesale business for the full year.

Product and territorial licences reported positive results with new licensed store openings in Azerbaijan, Egypt, Mexico and Taiwan.

picture:tedbaker.com