UK: Ted Baker festive sales up 7.6% despite snow
Despite being hit by poor weather in the run-up to Christmas, British fashion brand Ted Baker today (14 January) still managed to post higher sales over the holiday period.
The London-based company booked a 7.6% rise in retail sales during the eight weeks to 8 January 2011, adding that sales since Christmas have been "particularly strong." It was also boosted by strong trading momentum in overseas markets.
Pre-tax profit in the year to 29 January is now set to be in line with expectations.
"Despite the impact of the adverse weather conditions in the run up to Christmas, the group has delivered a pleasing performance," said founder and chief executive Ray Kelvin.
"Whilst the macro economic outlook for 2011 remains uncertain, I believe we are well placed to deal with the challenges ahead. We continue to expand the brand globally, with new store openings planned in 2011 in Manchester, Paris and Hong Kong."
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Lifestyle brand Ted Baker reported a double-digit rise in group revenue in the 19 weeks to 11 June, boosted by a 9.4% retail sales increase and a 42.1% surge in wholesale revenues....
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