Sales power ahead at Ted Baker

20th Jun 2013 07:17

British fashion label Ted Baker delivered an impressive 32.7 per cent rise in revenue for the 20 week period from January 27th to June 15th following strong demand across the group. Retail sales for the period surged 30.7% from the same period last year, while average retail square footage rose by 13.4%. Gross margins were, as anticipated, in line with last year."We are delighted with this performance which is reflected across all the territories in which we operate. Our e-commerce business has also continued to perform very well," the group said in a company statement.In the UK, Ted Baker opened an accessories store in Gatwick North while its store at Stansted Airport closed for the redevelopment of the Terminal. As part of the ongoing management of its UK store portfolio, it closed its store on the Kings Road London as the lease expired at the end of the period.Internationally, it opened its first concession in France during the period as well as further concessions in Spain and the Netherlands. It also continued to expand into Asia, opening a store and an outlet in Shanghai, and a concession through a department store in Tokyo.Wholesale sales for the period soared 41% from the same period last year, following a robust performance in all of its markets. "The level of growth for this period was positively impacted by the phasing of sales and we would anticipate full year growth to be slightly ahead of our initial expectations for the year of single digit growth," it said.Founder and Chief Executive Ray Kelvin said: "We are continuing to invest in developing the Ted Baker brand internationally and have been encouraged by the reaction to the brand and the collections in our new markets.""Whilst as ever the outcome for the full year will be dependent on the second half, we remain very confident of our prospects."