[News] Festive season brings cheer to Ted Baker

WGSN 08.01.10

UK-based fashion brand Ted Baker said Friday it had achieved strong Christmas sales as the UK market performed ahead of expectations.

Retail sales grew 19.1% in the November 1 to December 24 period on a year-on-year basis, with average retail square footage lifting 14.3% to 209,255 sq ft.

"The UK continued to perform ahead of expectations during the period demonstrating the strength of our innovative product design," the company said.

"Outside of the UK there were some improvements in performance, although trading conditions remain mixed. Lower promotional activity during the period resulted in gross margins being some 2.5% above last year and in line with the margins achieved in 2007."

Ted Baker also said the good news had extended into the New Year, with trading post-Christmas being strong and the company saying it expected to end the season with a clean stock position.
"I am pleased to report that trading continued to exceed our expectations in a very competitive environment," said founder and chief executive Ray Kelvin, and although he also cautioned on an uncertain 2010 he added that the company was "well placed to deal with the challenges ahead".

"Our collections continue to be positively received by our customers and the brand is well positioned globally to benefit when growth in consumer demand returns," he said. "We remain focused on investing in the business through our multi-channel distribution strategy."

Source: WGSN