Wholesale surge lifts Ted Baker

17th Nov 2010 11:36

Fashion chain Ted Baker's sales soared by over a fifth in the past three months as wholesale sales powered forward and UK business held up well.Revenue rose by 20.7% in the 13 weeks from 15 August to 13 November compared to last year, with gross margins in line with expectations. Retail sales rose 8.6%, while average retail square footage rose by 6.9% to 221,443 sq.ft. "Trading in the UK has continued to perform well and the improved trend in our overseas markets has continued," Baker added. Wholesale sales for the period were 76.2% above the same period last year, helped by the timing of sales, an improved performance in the UK, and steady US business continuing. Baker now anticipates wholesale sales for the full year will be 15% ahead of last year, largely because of the UK improvement."We continue to expand the Ted Baker brands in new and existing markets with new store openings announced during the period and further stores planned to open in Manchester, Paris and Hong Kong in 2011," chief executive Ray Kelvin said.