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Ted Baker reports 20.5 percent rise in revenue

By Prachi Singh

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Ted Baker has posted a 20.5 percent increase in group revenue for the 13 week period from August 16, 2015 to November 14, 2015, compared to the same period last year. Retail sales for the period increased by 18.1 percent on reported and constant current basis and average retail square footage rose by 7 percent.

Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said, “Ted Baker has continued to perform very well with further development of the brand internationally and across distribution channels. The reaction to our autumn/winter collections has been very encouraging, however, the group's full year results will be dependent on trading conditions over the important Christmas period.”

International expansion continues

The company said that this positive performance was achieved despite a more challenging trading environment in some of its international markets. International expansion continued with new openings in Stansted Airport, Amsterdam, Hawaii, Malibu and Toronto, and further concession openings in department stores in Germany, Ireland, Spain, North America and South Korea. Ecommerce business delivered another strong performance with sales increasing 74.3 percent.

Wholesale sales for the period increased 27 percent or 25.1 percent in constant currency reflecting strong performances from both our UK and North American businesses. The company anticipates group wholesale sales for the full year to be approximately 28 percent ahead of last year on a reported basis.

Product and territorial licensees continued to perform well with licensed store openings in Singapore and Taiwan and licensed concession openings in Kuwait and Mexico.

Ted Baker intends to make its next trading statement covering the period from November 15, 2015 to January 2, 2016 in mid-January 2016.

Ted Baker