Retail sales at fashion retailer Ted Baker climbed 19.8% over the 13 weeks to November 14, as strong UK sales growth offset difficult trading in overseas markets.
Total sales jumped 8.2% over the period, and gross margins were in line with expectations.
The US market, which accounts for about 8.5% of total sales, continued to be weak.
Ted Baker’s wholesale business remained tough, and sales fell 25% as the company closed a number of accounts and transferred some accounts to retail concessions.
Ted Baker founder and chief executive Ray Kelvin said: “Although we continue to trade ahead of our expectations, as always the results for the full year depend upon the key Christmas trading period.”
Noble analyst Sanjay Vidyarthi said: “The US market is still tough, but not as uniformly bad as it was and we continue to expect an announcement at some stage of further store openings as Ted takes advantage of more attractive deals.
“In the UK, new store opportunities are still not as evident as one might expect, given Ted’s strong covenant, with high-quality locations difficult to get at the right price.”