13th Jan 2016 07:34
LONDON (Alliance News) - Ted Baker PLC on Wednesday reported a rise in retail sales in its eight-week Christmas period and said it expects full-year results to be in line with its expectations.
The high-end fashion retailer said retail sales in the eight weeks to January 9 grew 10% year-on-year. Gross margins were in line with expectations, and there was no significant promotional activity before Christmas, Ted Baker said, adding that it expects to end the year with a clean stock position.
The e-commerce business also performed well, with sales increasing 39%, and Ted Baker said it expects its full-year results for the year ending January 30 to be in line with its expectations.
"The Ted Baker brand has performed well over the Christmas period against a tough trading backdrop. We continue to invest across international markets for the further development of Ted Baker as a global lifestyle brand," Chief Executive Ray Kelvin said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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