British fashion brand & retailer Ted Baker has seen its sales grow in double digits since February thanks to strong trading in its high street stores, results today reveal.
Retail sales at the group grew 16.2 per cent year-on-year in the 19 weeks to June 9th 2012, helping overall revenues grow by 14.6 per cent over the same period.
The retailer says that the group’s performance is in line with market expectations at present, with gross margins unchanged year-on-year and wholesale trading up 8.9 per cent compared to the same 19 weeks last year.
Ray Kelvin, Founder and CEO of Ted Baker, said: “The group has made a good start to 2012, despite continued uncertainty in the trading environment.
“This is a testament to the strength of our brand, our collections and above all, the commitment of our team.”
Ted Baker has continued to focus on expansion this financial year and managed to increase its average retail square footage rose by 12 per cent annually in the period to total 259,936 sq ft.
A new store in London was accompanied by additional concessions in the US, Spain and Ireland, while the retailer also unveiled its first store in Japan and new concessions with leading department stores in the Netherlands and South Korea.
Kelvin added: “We continue to develop the Ted Baker brand in the UK and overseas.
“We opened a new store on the Brompton Road, London last week, and have exciting international store openings planned for the coming months, including Fifth Avenue, New York, Harbour City, Hong Kong and our first stores in Toronto, Canada, along with Beijing and Shanghai, China.”