- Expects to end year with clean stock position
- Online sales jump 39.1%
- Further expansion overseas during the period
Ted Baker has unveiled a 10.1% retail sales rise over Christmas and said margins were in line with expectations.
In the eight weeks to January 9 gross margins held up after the retailer engaged in little “significant promotional activity before Christmas”. Ted Baker said it expects to end the year with a clean stock position.
This contrasts with many other fashion retailers that went on Sale early in the run up to Christmas as they strived to clear excess stock after a warm autumn/winter period.
Online sales jumped 39.1% in the period while Ted Baker’s average retail square footage rose 7.5% to 355,907 sq ft.
The retailer continued its march overseas, opening concessions in France, Spain and Mexico and unveiling a new store in California in the period. It also opened franchise stores in Sydney and Saudi Arabi.
Ted Baker founder and chief executive Ray Kelvin said: “The Ted Baker brand has performed well over the Christmas period against a tough trading backdrop.
“We continue to invest across international markets for the further development of Ted Baker as a global lifestyle brand.
“Commitment to quality, design and attention to detail underpins everything we do, as well as the talent, passion and Tedication of our team. On behalf of the Board I would like to thank everyone across the world for their continued hard work.”
Ted Baker will unveil its prelims on March 17.