Friday, August 19, 2022

Ted Baker records growth despite “challenging trading conditions”

Ted Baker has bucked the downturn trend currently plaguing many of its high street competitors by recording a jump in sales in its third quarter.

Whereas many British high street brands continue to face challenging trading conditions, Ted Baker‘s group sales for the 13 weeks to November 12 was up by 14.8 per cent – an increase from the 14.4 per cent recorded in its first half report.

The retailer attributed this growth to its international expansion, but the fall in the value of the pound may have had something to do with it as international customers took advantage of it.

Despite this, the company stressed that the Christmas trading period would determine whether the year will be a success.

While Ted Baker‘s sales from its shops and the website increased by 15.4 per cent, up from 13.6 per cent recorded in the first half, its ecommerce sales alone surged by 30.3 per cent.

READ MORE: Ted Baker posts boost in sales amid struggling fashion sector

“The brand continues to perform well despite challenging trading conditions and we remain focused on the long-term development of Ted Baker as a global lifestyle brand,” chief executive Ray Kelvin said.

“Our continued growth and development reflects the strength of the brand, our business model and our unwavering focus on product quality and design, underpinned by the skill, innovation and passion of our teams globally.

“The reaction to our collections has been very encouraging, however, the group‘s full year results will, as always, be dependent on trading conditions over the important Christmas period.” 

Click here to sign up to Retail Gazette’s free daily email newsletter


Please enter your comment!
Please enter your name here