Ted Baker’s revenues boosted by online sales
14 June 2016
- From the section Business
Strong online sales and new stores have helped to boost revenues at UK fashion brand Ted Baker.
The company said revenues rose 11.3% in the 19 weeks to 11 June, with online sales rising 32.3%.
The luxury clothing firm said retail sales rose 12.7%, despite what it called “challenging external trading conditions”, and it was on track to meet its full-year profit targets.
During the period it opened new stores in Beijing, Ottawa and Seattle.
It also opened concessions in department stores in China, France, Germany, Japan and Spain.
Ray Kelvin, founder and chief executive, said: “We are very pleased with the response from our customers over this period and remain well positioned to deliver our expectations for the full year.”
Analysts at Liberum said Ted Baker was outperforming its rivals both in stores and online, as well as through wholesale channels.
Next, Britain’s most successful clothing retailer over the past decade, warned in May that its sales could fall by as much as 3.5% this year, due to a cool spring and signs of a slowdown in consumer spending.
This post was written by FSB News