Ted Baker continues to buck high street gloom with continued revenue growth

Ted Baker has posted a 4.2% increase in group revenue for the 19-week period ending 9 June as it continues to defy the high street gloom.

Ted Baker said the performance was achieved despite the impact of unseasonal weather across Europe and the East Coast of America in the early part of the period as well as  “external trading conditions remaining challenging across many of our global markets”.

Wholesale sales for the period increased by 14.2% attributed to both strong performances from its UK and North American businesses and the earlier timing of wholesale deliveries.

The British retailer also said it anticipates achieving at least high single digit growth in the wholesale business for the full year.

It also reported its ecommerce performed well with sales increasing by 33.6%. “Our flexible business model, including a relatively low number of own stores, enables us to respond to structural changes in the retail sector,” it said.

Total retail sales during the period including e-commerce increased by 0.7% and average retail square footage rose by 5.7% to 420,799 sq ft up from 398,000.  

Ray Kelvin, founder and chief executive said: “We are pleased with the customer responses to our collections as well as the brand’s continued expansion across each of its distribution channels.

“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.”

He added: “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.”