Ted Baker (LON:TED), the self-styled global lifestyle brand, unveiled double-digit percentage increases in retail and wholesale turnover in its interim management statement.
Despite complaining of a more challenging trading environment in some of its international markets, the fashion firm saw retail sales rise 18.1% year-on-year in the 13-week period from mid-August to mid-November, helped by its Autumn/Winter “customer event”, which fell a week later this year.
Average retail square footage over the period was 7.0% higher than a year earlier.
The e-commerce business, which also benefited from the customer event, delivered another strong performance with sales increasing 74.3%.
Wholesale sales for the period increased 27.0% (25.1% in constant currency) reflecting strong performances from both its UK and North American businesses.
The group expects wholesale turnover for the full year will be some 28% ahead of last year on a reported basis.
Both retail and wholesale gross margins were in line with expectations.
“The reaction to our Autumn/Winter collections has been very encouraging; however, the group's full year results will be dependent on trading conditions over the important Christmas period," said Ray Kelvin, founder and chief executive of Ted Baker.
Ted Baker shares were up 10p at 3,438p in mid-morning trading.