Ted Baker sees sales rise 17.9% as global expansion continues

10th Jun 2014 07:18

Group revenues at British fashion retailer Ted Baker jumped 17.9% in the first 19 weeks of its financial year, helped by a strong performance across established markets and "progress" in its newer markets.During the period between January 26th and June 7th, retail sales improved by 15.8% on last year, while the average retail square footage rose by 9.5% to 323,872 square foot.The company noted that its e-commerce business performed particularly well, with sales up 48.1%, helped by its new platform.Founder and Chief Executive Ray Kelvin said that the brand has "continued to perform very well" since the start of the financial year."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." The first 19 weeks of the year saw two new stores open in Glasgow and Heathrow Terminal 2. The company also continued its expansion overseas with new stores and concessions in a number of regions, such as the US, Spain, France, Tokyo, Saudi Arabia and Australia."We continue to invest in our people and infrastructure to support the long term development of the Ted Baker brand globally," the company said.BC