Fashion retailer Ted Baker announced interim results with a 24.3 per cent increasing in Group revenue, driven by increased online sales of 46.9 per cent.
The results covered the 18 weeks to June 6th, and referenced growth year on year. Product and territorial licences continued to perform well with new licensed store openings in Azerbaijan, Dubai, Qatar, Saudi Arabia, Thailand and two in Taiwan.
The company reported, “Wholesale sales for the period increased by 41.2 per cent (38.0 per cent in constant currency), with a strong performance from both our UK and North American businesses. In North America in particular, sales have benefited from a strong start to the season and changes to buying patterns, which have brought forward some orders. Consequently, we now anticipate growth for the full year of around 18 per cent”.
The e-commerce business has continued to perform well, with sales increasing 46.9 per cent. This reflects further growth in the UK, a good performance from the US site, which benefited from the migration to its new platform in July last year and an encouraging contribution from the company’s new Canadian site which opened at the end of 2014.
Ray Kelvin CBE, Founder and Chief Executive said, “The Ted Baker brand continues to perform very well and we have delivered further progress across our global markets and distribution channels. 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. Commitment to quality, design and attention to detail underpins everything we do and we remain focussed on our strategy to develop Ted Baker as a global lifestyle brand.”