Ted Baker revenue rises; on course to deliver on FY expectations

Fashion retailer Ted Baker reported a 14.2% rise in revenue for the 19 weeks to 10 June as it presses ahead with its global expansion, with openings in Los Angeles, Paris, and Shanghai.

Total retail sales for the period were up 8.4% at constant currency, while wholesale sales for the period increased 8.9%, reflecting good performances from both its UK and North America business. The group said its e-commerce business has continued to perform well, with sales up 32.3% thanks to good growth across the e-commerce sites and the strength of its retail proposition.

In addition, Ted Baker continues to expect to achieve high single-digit growth at constant currency in the wholesale business for the full year. It said the company was positioned to meet the board's expectations for the full year "despite the current uncertain macro environment".

Found and chief executive Ray Kelvin said: "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. 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."