Designer fashion retailer Ted Baker has posted a 15.2 per cent rise in group revenue since the start of the year, according to an interim management statement released today.
During the 19-week period to June 11th 2011 retail sales jumped 9.4 per cent whilst wholesale trading soared 42.1 per cent year-on-year during the period.
Retail square footage increased by 4.4 per cent with stores opening in Manchester, Paris and Hong Kong, and concessions launching in department stores in the US, Spain and Portugal.
“The group has made a good start to 2011,” commented Ray Kelvin, Founder & CEO of Ted Baker.
“Our collections have been well received across our international markets as we continue to expand the brand into new territories.”
Profits grew by 24.2 per cent in the 12 months to January and the first half of this year seems to have been equally successful with underlying input margins in line with last year, although retail gross margin has slipped due to product mix and increased promotions.
Trading at licensed stores in the Middle East and Asia over the last 19 weeks has reportedly been strong and Ted Baker intends to roll out more stores internationally.
Kelvin added: “Looking forward into the second half of the year we plan to open new stores in the UK, New Zealand, China and America, whilst maintaining our focus on design, quality and attention to detail which underpin the core strengths of the Ted Baker brand.”