UK: Global expansion pushes Ted Baker retail sales up 13%
UK fashion designer and retailer Ted Baker Plc, today (12 June) said revenues in the 19 weeks to 9 June rose 6.4% over the same period last year, helped by global expansion in the Far East and Asia.
The company said retail sales for the period were up 12.8%, but warned that wholesale sales slipped 6.7% as conditions remain difficult for some of its wholesale customers.
"We continue to monitor the profile of our wholesale customers to ensure they remain appropriate for our brand," the company said in a Regulatory News Service statement.
Ray Kelvin, founder and chief executive, added: "Trading across the group has been in line with our expectations.
"While the results for the full year will, as always, be dependent on trading in the second half of the financial year, the board remains confident of another successful outcome for the year."
The company plans to open three further licensed stores in Dubai, Kuala Lumpur, and Taiwan, taking the total to nine through its licence agreements with Li & Fung and RSH Limited.
It also expects retail sales and licence income to continue to exceed that of wholesale sales during the year.
UK fashion retailer Ted Baker has bucked the recent trend of sector gloom with a 14.3% rise in revenue during the group's third quarter....
UK fashion operator Ted Baker said that its profit before tax remained unchanged for the interim period covering the 28 weeks ended 11 August 2007....
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