Ted Baker boosts sales despite tough trading conditions
The fashion brand said it faced difficult weather conditions in key markets.
Ted Baker has reported a rise in revenue across its various sales channels, despite the company warning that it operates in an “uncertain” consumer environment.
Group sales at the retailer rose 4.2% in the 19 weeks to June 9, a performance achieved against a backdrop of bad weather across both Europe and the East Coast of America.
Online sales jumped 33.6%, while wholesale sales were up 14.2% over the period.
Despite an uncertain consumer outlook, we are well positioned to continue Ted Baker's long-term development Chief executive Ray Kelvin
Ray Kelvin, founder and chief executive of Ted Baker, said: “The group’s continued progress and growth is a reflection of the design and quality of our collections as well as the sustained appeal of the Ted Baker brand.
“These strengths, along with our business model and the passion, skill and commitment of our team mean that, despite an uncertain consumer outlook, we are well positioned to continue Ted Baker’s long-term development.”
Shares fell 3% to 2,316p following the update.
Paul Hickman, analyst at Edison Investment Research, said: “Underlying this overall positive result is Ted’s helpful spread of risk – between retail wholesale and licensing income on one dimension, and between geographies on another.
“That spread of risk, together with the brand’s unique aspirational lifestyle appeal, keeps the company on the right side of the cautious selection criteria investors need to apply to the retail sector.”