Sales rise at Ted Baker

Ted Baker said gross margins were in line with expectations and it increased its average retail square footage by 6.9% to 221,443 sq ft.  

The retailer and wholesaler reported that trading in the UK was strong and conditions in its overseas markets continued to improve, albeit against against stronger sales comparatives in the second half of the financial year.

Wholesale turnover in the period benefited from the phasing of Sales compared to last year. Ted Baker said there was an improved wholesale performance in the UK, which will result in wholesale turnover for the full year being about 15% ahead of last year.

The retailer reported: “The group’s results for the full year will be dependent on trading during the key Christmas period. Whilst we are mindful of the wider macro economic uncertainty we have been encouraged by trading in the second half of the year, reflecting the strength of the Ted Baker brand and collections.”

Ted Baker founder and chief executive Ray Kelvin said: “I am pleased by the group’s performance for the period with trading in our overseas markets being particularly strong. We continue to expand the Ted Baker brands in new and existing markets.”

The performance of recently opened stores in Taiwan, Kuwait, Abu Dhabi and Sydney has been encouraging. Store openings are planned to open in Manchester, Paris and Hong Kong next year.