Ted Baker’s group sales rose 8.4 per cent in the 19 weeks to June 7. Retail sales climbed 15.4 per cent, but wholesale turnover fell 8.6 per cent. Gross margin was in line with expectations.

The company attributed the retail sales rise to a strong spring/summer collection.

Although wholesale sales fell year on year, the performance was still an improvement on the figure reported at its prelims.

During the period, Ted Baker opened a second standalone womenswear store on South Molton Street, London and Ted Baker & Friends, its first shop in the City of London. Selling space rose 13.6 per cent to 172,695 sq ft (16,045 sq m).

Ted Baker chief executive Ray Kelvin said: “Considering the tougher retail climate, we have been pleased with our performance across the group.”

He said: “We will continue to consider further opportunities for the careful expansion of our brand – both in the UK and overseas – and continue to develop the range and quality of our collections as exemplified by our premium womenswear collection Langley.”

Landsbanki analyst Paul Deacon said the update was a little below his expectations but observed: “Ted Baker seems to be performing better than most other clothing retialers. In part, this is probably because its younger customers are relatively less exposed to many of the current pressures from the housing market, personal debt and everyday price increases.”

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