Ted Baker’s sales increases by 18.3 percent

REPORT_ Ted Baker, the British lifestyle brand, is pleased to announce an 18.3 percent increase in retail sales for the 8-week period

from 10 November 2013 to 4 January 2014, compared to the same period last year. Average retail square footage rose by 10.9 percent over the period to 303,174 square feet. Gross margins were in line with expectations and, as in previous years, there was no significant promotional activity before Christmas.

The UK and Europe continued to perform well for Ted Baker in a competitive trading environment and the performance of the e-commerce business has been strong, benefiting from the launch of the new UK e-commerce platform at the start of the period. During the period a store in Gatwick South was opened and continued international expansion with a new store in Hong Kong and second store in Turkey. Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said, ”We remain pleased by the brand's performance in our established territories and continue to invest in newer markets for the long term development of Ted Baker as a global lifestyle brand.

Meanwhile, the company has appointed international retailer Andrew Jennings to the Board as an Independent Non-Executive Director with effect from 1st February 2014. On this new appointment, David Bernstein, Chairman of Ted Baker, commented "We are delighted that Andrew Jennings is joining the Ted Baker Board. He brings a wealth of international retail experience gained over 40 years at some of the world's most respected high-end speciality stores. His experience will be invaluable as we continue to develop the brand in the UK and internationally and we look forward to his contribution going forward."