Ted Baker 28 weeks-end retail sales up 15.4 percentThursday, 04 October 2012
Ted Baker has announced its interim financial results
ending 28 weeks August 11, 2012 with increase of 15.4 percent in retail sales on a 12.6 percent increase in average retail square footage amid the challenging conditions.
Its sales results in the UK and Europe increased 7.9 percent to 74.7 million euros (120 million dollars). Its US retail sales increased 53.3 percent to 25.6 million dollars whereas retail sales from rest of the world showed an up of 58.1 percent to 2.8 million euros (4.5 million dollars). E-commerce sales increased 82.4 percent to 6.2 million euros (9.9 million dollars).
It also continued with its retail expansion by opening of first store in Tokyo, Japan and first concessions in South Korea and the Netherlands apart from store launches in existing markets of London, New York and Hong Kong.
Commenting on the results, Ray Kelvin CBE, Founder and Chief Executive, Ted Baker said, “We have delivered good results in a challenging environment whilst making important investments for the long term development of the brand, including opening new stores in Tokyo and New York. We are especially pleased with the positive reaction to our Autumn/Winter collections and I am delighted with the openings, since the period end, of our first store in China and our first concessions in Germany, as we continue to build Ted’s global presence.”
However, he also added that, “As ever, our full year results will be dependent on trading in the important second half and we remain understandably cautious at this stage given the uncertainty in the global economy. We believe that we are well placed to deal with the challenges ahead.”