Ted Baker retail sales soar 24.6%

The retailer said it was particularly pleased with its performance in the UK and Europe, where it had opened further concessions in department stores in the Netherlands, Ireland and Spain, as well as its first concessions in Germany.

Its retail space increased 13.7% year-on-year over the period.

Group sales jumped 22.1% over the quarter and the retailer said its ecommerce business continued to perform “very well”.

Ted Baker opened its first store in Beijing, China during the quarter. Ted Baker founder and chief executive Ray Kelvin CBE said: “We are very encouraged by the reaction to the brand and collections in our new markets where we are investing for the longer term development of the brand and further new store openings are planned for the coming months, including our first store in Toronto, Canada, further stores in Shanghai, China as well as a new store in Heathrow Terminal 3.”

The retailer launched further concessions in US department stores over the quarter, although momentum was disrupted by Hurricane Sandy, it said.

Wholesale sales surged 14.2% with its US and UK business driving growth. Wholesale sales are expected to be up 12% for the full year.