• Q3 total sales up 14.8%
  • Retail sales grow 15.4%
  • Tetail and wholesale margins in line with expectations
Ted Baker booked sales growth despite "challenging market conditions"

Ted Baker booked sales growth despite "challenging market conditions"

UK lifestyle brand Ted Baker has hailed a "good performance" in its third-quarter, as sales rose nearly 15% despite what it says were challenging trading conditions. 

In a trading update for the 13 weeks ended 12 November, the company revealed a 14.8% increase in group revenues and retail sales growth of 15.4%. This was despite "on-going external factors continuing to impact trading across our markets", the company said. 

E-commerce sales increased by 30.3%, representing 15.6% of total retail sales. Average retail square footage rose by 8.8% to 383,330 sq ft. Ted Baker's international expansion continued during the quarter with store openings in Atlanta, Miami and Calgary, and concession openings in premium department stores in China, Germany, Japan and Spain.

Wholesale sales were up 13.2% for the period, reflecting good performances from both the company's UK and North American businesses. Low double-digit wholesale sales growth is expected for the full year.

Both retail and wholesale gross margins were in line with company expectations, it said.

"The brand continues to perform well despite challenging trading conditions and we remain focused on the long-term development of Ted Baker as a global lifestyle brand," said CEO Ray Kelvin. "Our continued growth and development reflects the strength of the brand, our business model and our unwavering focus on product quality and design, underpinned by the skill, innovation and passion of our teams globally.

"The reaction to our collections has been very encouraging, however, the group's full year results will, as always, be dependent on trading conditions over the important Christmas period."

Ted Baker will publish its next trading statement in mid-January.