19th Nov 2015 08:41
LONDON (Alliance News) - Fashion retailer Ted Baker PLC on Thursday said its revenue surged higher in the third quarter despite the group facing tough conditions in some of its key markets.
The FTSE 250-listed group said revenue for the 13 weeks to November 14 rose 21%, with retail sales rising 18% and average retail square footage expanding 7.0%. Wholesale sales were up 27%, with strong performances in the UK and North America, and Ted Baker said it expects its wholesale sales will rise 28% for the full year. Retail and wholesale margins were in line with the company's expectations.
The retailer said the performance came despite tough trading conditions in some its key international markets, as it continued to expand internationally with new stores in the Netherlands, the US and Canada.
Ted Baker said it has continued to perform well over the year, though it said the outcome for the full year will be dependent on the Christmas trading period.
"Ted Baker has continued to perform very well with further development of the brand internationally and across distribution channels. Underpinned by the skill and dedication of our team across the world, our unwavering focus on product quality and design, and our continued investment across the business, we remain fully focused on the long-term growth of Ted Baker as a global lifestyle brand," said Chief Executive Ray Kelvin.
Shares in Ted Baker were down 0.2% to 3,436.00 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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