Early Christmas shopping and a raft of overseas store openings have helped boost quarterly sales at Ted Baker.
The British fashion retailer said its autumn/winter collections had been well received as it reported a revenue increase of 20.5% in the three months to 14 November, boosted by a one-day contribution from its annual winter promotional spree where shoppers are offered 20% discounts.
The figures included contributions from new store openings in Hawaii and Malibu as well as further concession openings in premium department stores across Europe, North America and Asia.
The strong performance overseas was achieved against a backdrop of a more challenging trading environment in some markets, notably Hong Kong and China. However, Ted Baker said it was maintaining profit margins despite the pressure in Asia, a key market for a retailer that trades at the more expensive end of the fashion market.
Ray Kelvin, the chief executive, emphasised the group’s global ambitions, saying it was “fully focused on the long-term growth of Ted Baker as a global lifestyle brand”.
Shares in Ted Baker, which rose slightly on Thursday after the quarterly update, have more than doubled in value since August last year. Analysts anticipate underlying profit growth of about 19% for the year, but the company has said its full-year results will depend on Christmas trading.
