Ted Baker reports strong sales over the Christmas season

Ted Baker announced a 22.8 percent increase in retail sales for the eight week period from November 9, 2014 to January 3, 2015, compared to the same period last year.

Commenting on the trading update, Ray Kelvin CBE, Founder and Chief Executive said, “The group has delivered a great performance over the Christmas period across our global markets and distribution channels. We will continue to invest in people and infrastructure as we expand the Ted Baker brand globally.”

Gross margins were in line with expectations and, as in previous years, there was no significant promotional activity before Christmas. Sales since Christmas have been particularly strong and the company expects to end the year with a clean stock position. Performance across established territories has remained strong. E-commerce business performed well, with sales increasing 65.7 percent, reflecting continuing growth in the UK and a strong performance in the US following the successful migration of the US website to the new platform in July 2014.

During the period, the company opened a store in Heathrow Terminal 4, relocated the Birmingham store to the Bullring and continued its international expansion with two new licensed stores with partners in Saudi Arabia and Abu Dhabi. Ted Baker would announce its annual results for the 53 weeks ending January 31, 2015 on March 19, 2015.