Ted Baker sees 19 per cent rise in Christmas sales
Ted Baker this week announced a 19.1 per cent increase in retail sales for the period 1 November 2009 to 24 December 2009, compared to the same period last year. Average retail square footage rose by 14.3 per cent over the period to 209,255 sq.ft.
The UK continued to perform ahead of expectations during the period demonstrating the strength of our innovative product design. Outside of the UK there were some improvements in performance, although trading conditions remain mixed. Lower promotional activity during the period resulted in gross margins being some 2.5 per cent above last year and in line with the margins achieved in 2007.
The trends seen during the period have continued into the New Year. Trading in the post Christmas sales period has been strong and we expect to end the season with a clean stock position.
Commenting on trading, Ray Kelvin, Founder and Chief Executive, said: “I am pleased to report that trading continued to exceed our expectations in a very competitive environment. This performance is testament to our innovative product design, quality, attention to detail and excellent customer focus. I would like to thank the team at Ted Baker for their continuing hard work and dedication.
The outlook for 2010 is again uncertain but we remain well placed to deal with the challenges ahead. Our collections continue to be positively received by our customers and the brand is well positioned globally to benefit when growth in consumer demand returns. We remain focussed on investing in the business through our multi-channel distribution strategy.”