UK: Ted Baker Q3 sales up 7.8%
- Q3 group revenues up 7.8%
- Retail sales rise 12.3%
- Wholesale revenues slated for recovery despite 4.7% fall
Lifestyle brand Ted Baker posted a 7.8% increase in group revenues for the third quarter, with a double-digit retail sales increase offset by a slight fall in wholesale revenues.
The UK company said it had anticipated the 4.7% decline in wholesale revenues, caused by the phasing of sales between the two halves of the fiscal year, adding that it still expected full-year wholesale revenues to rise 12%.
Retail gross margin remained slightly below last year in the three months to 12 November, thanks to the mix of product sales and continuing the trend seen in the first half.
But the company reported continued good results from its licensed stores in the Middle East and Asia.
“We continue to expand the brand into new territories, whilst maintaining our focus on design, quality and attention to detail, the core strengths which underpin the Ted Baker brand,” said founder and chief executive Ray Kelvin CBE.
“We look forward to opening our first stores in Tokyo and Beijing early next year and our store on Fifth Avenue, New York towards the middle of 2012.”
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Ted Baker has booked a jump in full-year sales and says it plans to open more international stores in North America and Asia....
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