Ted Baker sales increased 18.3% over the Christmas period in the eight weeks from November 10 to January 4.
Ted Baker said its UK and European business “continued to perform well in a competitive trading environment”, while its newly revamped website recorded a “strong” performance.
The premium fashion brand said gross margins were in line with expectations as the retailer retained its full-price stance until it launched its Sale after Christmas. It said the Sale had been “particularly strong” and it expects to end the year with a clean stock position.
Ted Baker founder and chief executive Ray Kelvin told Retail Week: “Margins are in line with expectations due to the fact that we don’t discount. People who buy Ted Baker don’t want that. If a brand is your favourite you don’t want to buy something with a red line through it.”
Kelvin said this Christmas was better than last year for the brand: “Thing have got better but there are winners and losers.
“We’re effected [by the weather] the same as everybody else. But we have the brand in the right place. We don’t have many shops. The brand is pure and we nurture it and we love what we do.”
Kelvin added: “The group has delivered a strong result over the Christmas period in a competitive trading environment, reflecting the strength of the brand and quality and design of our product. We remain pleased by the brand’s performance in our established territories and continue to invest in newer markets for the long-term development of Ted Baker as a global lifestyle brand.”
Ted Baker said it made “good progress” in the US and Canada as the brand gains recognition, while its Asian business was “encouraging”.
In the period the retailer opened a store in Gatwick South Terminal, one in Hong Kong and a second shop in Turkey.
Ted Baker revealed former chief executive of German retailer Kardstadt Group Andrew Jennings will join the board as independent non-executive director on February 1. The brand hopes to use his retail experience to grow in the UK and internationally.
Ted Baker anticipates profit before tax will be in line with expectations for the year ending January 25.