Fashion retailer and brand Ted Baker has reported a “strong” sales rise across the business as it expands internationally.
The idiosyncratic fashion specialist posted a retail sales surge of 18.9% and group revenues up 24.2% in the 18 weeks to June 6. Ecommerce sales rocketed 46.9%.
Ted Baker said that performance was “strong” in its established markets and it is building brand awareness in overseas markets such as China, which it has entered more recently.
The retailer attributed its ecommerce performance to continued growth in the UK, as well as the benefit to its US site of its migration to a new platform in July last year. A Canadian site, which went live at the end of last year, made an “encouraging contribution”.
Wholesale revenues climbed 41.2%, helped by changes to buying patterns in the US that meant orders were brought forward and full-year growth of 18% is now expected.
Ted Baker founder and chief executive Ray Kelvin said: “The Ted Baker brand continues to perform very well.
“We are pleased with the performance of our spring/summer collections in the UK and internationally. Commitment to quality, design and attention to detail underpins everything we do and we remain focused on our strategy to develop Ted Baker as a global lifestyle brand.”
Cantor Fitzgerald analyst Freddie George said: “The trading update was significantly better than our expectations. It shows the brand remains very much on trend, which yet again is quite an achievement for the business.”