The lifestyle brand increased retail sales 10.1 per cent in the eight weeks to 9 January. Its ecommerce arm performed particularly well, with sales up 39.1 per cent, reports CityAM.
Average retail square footage rose by 7.5 per cent over the period to 355,907 sq.ft.
Gross margins were in line with expectations and there was no significant promotional activity before Christmas. “We expect to end the year with a clean stock position,” Ted Baker said.
The business is still in growth phase, with concessions opening in the UK, France and Spain during the period, as well as a new store opening in California.
High street staples such as Next and Marks & Spencer have been struggling against low footfall and unseasonable weather, but there were no such issues at Ted Baker, which has been increasingly pushing out beyond clothing to beauty, homeware and accessories.
Founder and chief executive Ray Kelvin said: “The Ted Baker brand has performed well over the Christmas period against a tough trading backdrop. We continue to invest across international markets for the further development of Ted Baker as a global lifestyle brand.
“Commitment to quality, design and attention to detail underpins everything we do, as well as the talent, passion and “Tedication” of our team. On behalf of the board I would like to thank everyone across the world for their continued hard work.”
