Ted Baker reveals soaring sales amid ‘challenging conditions’

The fashion retailer’s retail sales rose 12.7% in the 19 weeks to June 11, compared with the same period last year, and its group sales increased 11.3%. 

Ted Baker said its performance was achieved in the context of “challenging external trading conditions” and is a reflection of the “strength of the brand and the group’s business model”. 

Ted Baker has continued to expand internationally with openings in Beijing, Ottawa and Seattle, and further concession openings in department stores in China, France, Germany, Japan and Spain.

It currently operates from 465 stores and concessions worldwide, 185 of which are in the UK.

The fashion retailer said its ecommerce business has “continued to perform well” with sales increasing 32.3%. Ted Baker also launched its first language-specific website in Germany during the period and has been “very pleased with its performance at this early stage”.

Sales at the business’ wholesale arm increased 7.3% during the period but performance of its UK wholesale division was impacted by the timing of some deliveries.

Ted Baker founder and chief executive Ray Kelvin said the results demonstrate the strength of the brand.

He said: “Underpinned by our unwavering focus and passion across all of our products and distribution channels, the talent and dedication of our global teams continue to execute our multichannel growth strategy.

“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.”

The group is due to report its interim results on October 11 and remains on track to deliver results in line with expectations.

In the last financial year, the group’s full-year sales rose 17.7% to £456.2m while profit before tax increased 18.6% to £58.66m.