Ted Baker sales jump 20.5% despite tough international markets

The fashion brand and chain said retail sales in the 13 weeks to November 14 rose 18.1%, while average square footage in its stores increased 7%.

Sales were boosted by the timing of Ted Baker’s annual customer promotional event, as last year it fell outside the third-quarter reporting period.

Online sales jumped 74.3% in the period.

The group said the performance was “despite a more challenging trading environment in some of our international markets”. Ted Baker has seen sales growth slow in North America due to mild weather and the strong dollar. It has also been affected by the slowdown in China, but Asia is less than 4% of group sales.

However, it is continuing international expansion, having opened in Stansted Airport, Amsterdam, Hawaii, Malibu and Toronto. More concessions are planned in Germany, Ireland, Spain, North America and South Korea.

Wholesale sales for the period increased 27%, “reflecting strong performances” from its UK and North American businesses.

Looking ahead, chief executive Ray Kelvin said: “The reaction to our autumn/winter collections has been very encouraging, however, the group’s full year results will be dependent on trading conditions over the important Christmas period.”