Ted Baker [IRDX RTED] today said ecommerce sales grew by 30.5% this autumn, and now make up 19.2% of its total retail sales.
Retail sales as a whole grew by 4.6% in the 13 weeks to November 11, and group revenues by 7.3%. Wholesale was also up, with sales growth of 14.2% that reflected the performance of Ted Baker’s UK and North American businesses.
The strong performance came as Ted Baker expanded its retail space by 5.6%, opening a new store in Oxford alongside new concessions in department stores in Canada and Germany as well as the UK, and a new outlet in Chicago. It also came despite what Ted Baker described as “challenging external trading conditions” in some of its markets around the world, especially in October.
“The business has continued to perform well and develop in line with our expectations, reflecting the strength of the Ted Baker brand and the quality of our collections,” said Ray Kelvin, founder and chief executive of Ted Baker, a Top250 retailer in IRUK Top500 research.
“The group’s continued growth in the period, despite challenging trading conditions across some of our global markets, has again been underpinned by our business model and the unwavering focus on product quality and design that are central to everything we do.
“The reactions to our Autumn/Winter collections have been positive. Whilst the group’s full-year results will, as ever, be dependent on trading conditions over the important Christmas period, we remain confident of meeting our expectations for the full year and continuing to develop Ted Baker as a global lifestyle brand.””
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…)