Fashion brand Ted Baker has said that it is “pleased” with its performance in the 13 weeks to November 10th, in which revenue jumped 22.1%.
In the period, retail sales were 24.6% up and average retail square footage rose by 13.7%. The group opened opened further concessions in leading department stores in the Netherlands, Ireland and Spain as well as its first concessions in Germany. Meanwhile, it opened its first store in Beijing and expanded its concessions in the US, although momentum was disrupted by the effects of Hurricane Sandy towards the end of the period. Further licensed store openings are planned in Kuwait later in the year.
Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said: “The Group has delivered a good result over the period, in line with our expectations. We are very encouraged by the reaction to the brand and collections in our new markets where we are investing for the longer-term development of the brand and further new store openings are planned for the coming months, including our first store in Toronto, Canada, further stores in Shanghai, China as well as a new store in Heathrow Terminal 3.
“Whilst we are pleased with our performance to date, full-year results will as always be dependent on trading over the key Christmas period.”