Ted Baker posts 12.2 percent increase in retail sales

Ted Baker has announced that retail sales increased by 12.2 percent or 10.5 percent in constant currency for the five week period from December 2, 2018 to January 5, 2019, while ecommerce sales increased by 18.7 percent or 17.7 percent in constant currency and represented 25.7 percent of total retail sales. The company added that against a backdrop of increased promotional activity, gross margins remain in line with expectations for the full year.

Commenting on trading, Lindsay Page, Ted Baker’s Acting Chief Executive Officer said in a statement: "The Ted Baker brand has delivered a good performance across both our stores and e-commerce business, despite the continuing challenging external trading conditions across our markets.”

The company also said that it has completed the acquisition of No Ordinary Shoes Limited and No Ordinary Shoes USA LLC on January 1, 2019 for a consideration of 20.3 million pounds, subject to the finalisation of completion accounts. The acquisition is expected to enhance the earnings of Ted Baker in FY2019/20 and beyond.

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