UK: Ted Baker in double-digit festive sales surge
Retail sales at apparel lifestyle brand Ted Baker were up 18.3% in the eight weeks to 4 January, with sales since Christmas “particularly strong”, the company said.
Gross margins were in line with expectations, the UK business announced, as the UK and Europe continued to perform well, including strong growth in e-commerce.
In the US and Canada, Ted Baker said, the brand was “increasing traction and recognition” and, while business in Asia was still in the early stages of development, the company was “encouraged” by the long-term prospects.
“The group has delivered a strong result over the Christmas period in a competitive trading environment, reflecting the strength of the brand and quality and design of our product,” said Ray Kelvin CBE, founder and chief executive.
“We remain pleased by the brand’s performance in our established territories and continue to invest in newer markets for the long-term development of Ted Baker as a global lifestyle brand.”
The company expects to report pre-tax profits for the year to 25 January in line with expectations when it announces its results on 20 March.
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