UK: Ted Baker sales surge 20.9% over the festive period
Fashion retailer Ted Baker today (9 January) booked a bumper 20.9% jump in retail sales over the festive period, and reiterated its full-year profit forecast.
Sales in the eight weeks to 5 January were helped by the addition of an extra 13.9% of new retail space, but the company said the gains were achieved with "no significant promotional activity pre-Christmas."
It added that gross margins were in line with expectations, and that the UK and Europe performed strongly in a competitive trading environment.
"We were pleased by the performance in markets where the brand is established and continue to build brand awareness in our newer markets, where we are investing for the longer term," said founder and chief executive Ray Kelvin.
Separately, the retailer said Robert Breare has stepped down as non-executive chairman after more than 11 years in the role.
He has been replaced by current senior independent non-executive director David Bernstein, the former joint managing director of Pentland Group and previous chairman of Blacks Leisure and French Connection.
Upmarket UK fashion retailer Nicole Farhi has fallen into administration, with falling high street spending coupled with rising costs blamed for the move....
UK department store retailer John Lewis has appointed Paula Nickolds as its new buying and brand director, succeeding Peter Ruis, who has been named CEO of clothing chain Jigsaw....
Fashion brand Ted Baker recorded a 32.7% boost to revenues in the 20-week period ending 15 June, with retail sales moving up by 30.7%....
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