Ted Baker revenue up 24%; on track to meet full-year expectations

12th Jun 2015 07:31

Fashion firm Ted Baker posted a 24.2% rise in revenue for the 18 weeks from 1 February to 6 June and said it remains on track to meet expectations for the full-year.Retail sales for the period increased by 18.9%, or 18.1% at constant currency, while e-commerce sales rose 46.9% on the back of further growth in the UK and a good performance from the US site, which benefited from the migration to its new platform in July last year.Wholesale takings were up 41.2%, or 38.0% at constant currency, with a strong performance from both the UK and North American businesses. In particular, North American sales benefited from a strong start to the season and changes to buying patterns, which have brought forward some orders. As a result, the company said it now expects growth for this business of around 18% for the full year.Chief executive Ray Kelvin CBE said: "The Ted Baker brand continues to perform very well and we have delivered further progress across our global markets and distribution channels."We are pleased with the performance of our Spring/Summer collections both in the UK and internationally, which is testament to our skilled and passionate team. Commitment to quality, design and attention to detail underpins everything we do and we remain focussed on our strategy to develop Ted Baker as a global lifestyle brand."