Ted Baker [IRDX RTED] has reported a 35.9% rise in ecommerce sales in the first 19 weeks of its financial year, compared to the same time last year. That helped overall group revenue to grow by 14.2%, and retail sales by 14.3%, over the period. The designer clothing and accessories brand said the rise in online sales reflected “continued growth across our ecommerce sites as well as the strength of our retail proposition”.
At the same time, store space rose by 4.9% with openings in Los Angeles, Paris, Shanghai and Roermond in the Netherlands, as well as new concessions in department stores in Europe, Japan and Korea. Wholesale sales grew by 13.8% reflecting, said Ted Baker, thanks to “good performances” in the UK and North America.
Ted Baker founder and chief executive Ray Kelvin said: “This continued good performance across all of our distribution channels is a reflection of the strength and appeal of Ted Baker as a global lifestyle brand. The continued expansion of the brand remains underpinned by an unwavering focus on quality and attention to detail as well as the passion, skill and Tedication of our team.
“We are very pleased with the customer response during the period and, despite an uncertain macro environment, we remain positioned to deliver further progress and our expectations for the full year.”
The update is on a strategy set out in full-year results, to January 28. Then Ted Baker said it planned to continue opening stores in the year, with a focus on building brand awareness in Asia, and would invest in the customer experience online.
It also said it was streamlining its European logistics into a new UK distribution centre that would handle all operations for its retail, wholesale and ecommerce businesses in the UK and Europe.
Ted Baker is a Top250 retailer in IRUK Top500 research
Mentioned in this piece…
Ted Baker is a British clothing retail company.
Ted Baker plc is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Ted Baker’s managing director, Ray Kelvin, started his first store in March 1988 in Glasgow, and opened further stores in Manchester, Plymouth, and Nottingham. (more…)
- Ted Baker