British designer fashion brand Ted Baker saw retail sales rise 7.6 per cent year-on-year for the period between November 14th 2010 and January 8th 2011, according to a trading statement released this morning.
The company has been one of the retail success stories of last 12 months, with sales growing consistently over the year, helped by a strong focus on international expansion.
Average retail square footage continued to increase during the most recent trading period, growing by 6.6 per cent year-on-year to reach 223,623 sq ft.
A number of retailers such as Home Retail Group and Dixons Retail blamed the December snow for slower Christmas sales in their trading statements this week, and Ted Baker also admitted the cold weather impacted revenue.
However, the board still anticipates that profit before taxation for the year ending January 29th 2011 will be in line with expectations when figures are revealed in March.
Founder and CEO of Ted Baker Ray Kelvin, who was awarded a CBE in the Queen’s New Year honours at the end of 2010, welcomed today’s results and thanked staff for their efforts.
He 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.
“Whilst the macro economic outlook for 2011 remains uncertain, I believe we are well placed to deal with the challenges ahead.
“We continue to expand the brand globally, with new store openings planned in 2011 in Manchester, Paris and Hong Kong.”