Ted Baker’s growth continues unabated

Ted Baker growth

Ted Baker continued to experience an uptick in sales in its first quarter thanks to continued global expansion and online growth.

Overall revenue at the upmarket fashion chain was up by 14.2 per cent in the 19 weeks to June 10, while retail sales grew 8.4 per cent on a constant currency basis.

Meanwhile, online sales shot up by 32.3 per cent in the period and wholesale revenues rose 8.9 per cent.

Ted Baker also opened stores in Los Angeles, Paris, Shanghai and The Netherlands during the quarter.

READ MORE:  Ted Baker reports double digit revenue growth

The retailer said its growth came “despite external factors” impacting trading across some of its global markets, such as the downturn of the British economy since the Brexit referendum.

“This continued good performance across all of our distribution channels is a reflection of the strength and appeal of Ted Baker as a global lifestyle brand,” chief executive Ray Kelvin said.

“The continued expansion of the brand remains underpinned by an unwavering focus on quality and attention to detail as well as the passion, skill and ‘Tedication’ of our team.

“We are very pleased with the customer response during the period and, despite an uncertain macro environment, we remain positioned to deliver further progress and our expectations for the full year.”

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