Quirky fashion retailer Ted Baker stunned the sector with a 23.7 per cent rise in retail sales in the eight weeks to Christmas Eve, with gross margins in line with last year.
The retailer never discloses like-for-like sales, although analysts at Numis believed the figure must be mid- to high-single digits ahead.
Ted Baker chief executive Ray Kelvin said the growth was down to 'people, product and passion'. Full prices were maintained until Boxing Day. Trading is promising and stock clearance is ahead of schedule.
Kelvin said this year's focus is licensing income growth and expansion via the US.
A 5,000 sq ft (465 sq m) store in San Francisco will open early this summer. Kelvin said shops in Asia could be in the pipeline, but the retailer had to 'crack America' first. Fewer shops will open in the UK compared with 2003.
Broker Investec said: 'Early response to spring/summer ranges has been good. This, coupled with the prospect of more stores openings in the US, bodes well for healthy sales and earnings growth.'
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