Fashion brand Ted Baker posted a 7.6% rise in retail sales over the crucial Christmas period and said pre-tax profit would be in line with expectations for the year to January 29.
Ted Baker said trade for the period November 14 to January 8 had started well but that sales were affected by the adverse weather in the lead up to Christmas. However it pointed out that post-Christmas sales had picked up again meaning it would end the year with a clean stock position.
Gross margin was in line with expectations and Ted Baker said it had not done any significant promotional activity pre-Christmas.
The retailer said it continued to enjoy strong trade in its overseas markets and was pleased with the performance of its recently opened stores in Chicago and New York.
During the period average retail square footage was up 6.6% to 223,623 sq ft.
Ted Baker founder and chief executive Ray Kelvin said: “Despite the impact of the adverse weather conditions in the run up to Christmas, the group has delivered a pleasing performance, reflecting the quality of our collections, the commitment and passion of the Ted Baker team, the strength of the Ted Baker brand and the resilience of our business.”
He added: “Whilst the macro economic outlook for 2011 remains uncertain, I believe we are well placed to deal with the challenges ahead.”
Ted Baker will open stores in Manchester, Paris and Hong Kong this year.