Fashion group Ted Baker has posted a 19.1% increase in retail sales over Christmas and attributed the performance to its innovative product.
The quirky retailer and brand reported that the UK performed ahead of expectations during the period, from November 1 to December 24, and ahead of space growth of 14.3%. Outside the UK, trading conditions were mixed.
Gross margins were 2.5% up year on year to match those achieved in 2007 as a result of a lower level of promotions. Trading patterns in the new year have been similar to those over Christmas.
Ted Baker founder and chief executive Ray Kelvin said: “Trading continued to exceed out expectations in a very competitive environment.
“This performance is testament to our innovative product design, quality, attention to detail and excellent customer focus.”
Singer analyst Matthew McEachran said: “Although against a soft comparative, this is an excellent update. Core collections continue to be well received in most categories and we believe that the development of new ranges bodes well for brand appeal in future.”
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