- Prachi Singh |
Ted Baker recorded 4.2 percent or 7.5 percent constant currency increase in group revenue for the 19 week period to June 9, 2018, compared to the same period last year. The company said, this performance was achieved despite the impact of unseasonal weather across Europe and the East Coast of America in the early part of the period and, as previously reported, external trading conditions remaining challenging across many of our global markets.
Commenting on the trading update, Ray Kelvin CBE, the company’s Founder and Chief Executive said in a statement: "We have made significant investment in our flexible business model to ensure that the Ted customer has multiple channels to engage with the brand. Our global e-commerce business continues to grow very strongly and is complemented by our unique stores and digital and social selling strategy, which showcase the brand to our customers."
Retail sales increase 0.7 percent at Ted Baker
Total retail sales including e-commerce increased by 0.7 percent or 3.6 percent constant currency for the period and average retail square footage rose by 5.7 percent. Ecommerce sales during the period under review increased by 33.6 percent or 36.2 percent in constant currency. The company added that its flexible business model, including a relatively low number of own stores, enables the company to respond to structural changes in the retail sector.
Wholesale sales for the period increased by 14.2 percent or 18.9 percent in constant currency reflecting both a good performance from the company’s UK and North American businesses and the earlier timing of wholesale deliveries. Ted Baker continues to anticipate achieving at least high single digit growth in constant currency in the wholesale business for the full year.
The company saw positive momentum in its product licences with notable performances from childrenswear, eyewear, lingerie and suiting.
Picture:Ted Baker media gallery