Ted Baker says Christmas sales up 10%; FY to be in line

13th Jan 2016 07:44

(ShareCast News) - Upmarket fashion retailer Ted Baker said sales rose 10% over the eight week Christmas period against a tough trading backdrop and said full year earnings to be in line with expectations.It added that gross margins were also in line with expectations and there was no significant promotional activity before Christmas."We expect to end the year with a clean stock position," the company said in a trading statement."Expansion continued during the period with additional concessions in the UK, France and Spain and a new store opening in California. Licence partner openings included a new outlet in each of Melbourne and Sydney, a new store in Saudi Arabia and a new concession in Mexico."Ted Baker's e-commerce business reported a 39.1% rise in sales, reflecting a good performance across all of the group's websites.