Ted Baker sales rise despite unseasonal weather, challenging conditions

Fashion brand Ted Baker posted a jump in revenue for the 19 weeks to 9 June despite unseasonal weather across Europe and the East Coast of America and still-challenging external trading conditions across many of its global markets.

Group revenue grew 4.2% during the period, or 7.5% at constant currency, compared to the same period a year ago, with total retail sales including e-commerce up 0.7% and average retail square footage up 5.7% to 420,799 square feet.

E-commerce sales rose 33.6% in the period, while wholesale sales were 14.2% higher, reflecting a good performance from the company's UK and North American businesses and the earlier timing of wholesale deliveries. Ted Baker said it still expects to achieve at least high single-digit growth in constant currency in the wholesale business for the year.

The group said its product and territorial licensees continued to perform well, reflecting the global strength and appeal of the brand.

"Underpinned by the strength and the appeal of the Ted Baker brand and our balanced business model, the group remains focussed on delivering the board's expectations for the full year," it said.

Founder and chief executive Ray Kelvin said: "We have made significant investment in our flexible business model to ensure that the Ted customer has multiple channels to engage with the brand. Our global e-commerce business continues to grow very strongly and is complemented by our unique stores and digital and social selling strategy, which showcase the brand to our customers.

"The group's continued progress and growth is a reflection of the design and quality of our collections as well as the sustained appeal of the Ted Baker brand. These strengths, along with our business model and the passion, skill and commitment of our team mean that, despite an uncertain consumer outlook, we are well positioned to continue Ted Baker's long-term development."