Ted Baker has posted healthy sales over the decisive Christmas period, propelled by skyrocketing online sales.
In the eight weeks to January 6, the fashion retailer reported a nine per cent growth in retail sales, while gross margins remained in line with the company’s expectations.
This was propped up by global expansion, having opened new stores in Canada, Mexico, Malaysia and Qatar.
It also extended its concessions, where it recieves a large bulk of its income, in Germany and Spain.
Alongside concessions, Ted Baker’s income relies heavily on online sales, which saw a 35 per cent rise over the Christmas period and accounted for 30.1 per cent of its total sales.
“The Ted Baker brand has continued to perform in line with expectations over the Christmas period, delivering a good retail performance driven by particularly strong growth from e-commerce, which is an increasingly important part of our retail business,” founder and chief executive Ray Kelvin said.
“This pleasing result reflects the strength of the brand and the quality of our collections as well as the hard work, skill and commitment of our teams.
“Whilst external trading conditions are expected to remain challenging in the year ahead, the strength of our brand and business model means that we remain well positioned to continue the long-term development of Ted Baker as a global lifestyle brand.”