Ted Baker sees sales surge

Ted Baker sees sales surge

Ted Baker saw a surge in Christmas sales despite mild winter weather that has dogged rival brands.

The fashion brand, which has more than 400 stores and concessions worldwide, said retail sales for the eight weeks to 9 January lifted 10.1% compared to a year ago, as it opened new outlets in the UK, France and the US.

The business - which branched out from selling colourful shirts to include menswear, womenswear and fragrances - said it was not forced into "significant" discounting before Christmas. Shares lifted more than 2%.

By contrast, high street bellwethers Next and Marks & Spencer last week posted dips in trading over the festive season, as they coped with the warmest December in more than 100 years.

Also, Sports Direct warned on profits last week, blaming poor trading on unseasonal weather over the Christmas period.

Ted Baker said its online sales jumped 39.1% over the period year-on-year, adding that it saw "a good performance generally across our markets."

The retailer plans to report its annual results in March, and said it expects its full-year trading will be in line with forecasts.

Founder and chief executive Ray Kelvin said: "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."

Freddie George, an analyst at Cantor Fitzgerald, raised his annual pre-tax profit for the firm by 3.6% to £58m. Last year the retailer turned in an underlying pre-tax profit of £49.4m.

George said: "The Ted (Baker) brand is unique. It remains clearly differentiated from peers and is beginning to gain momentum from a global perspective."

Ted Baker was set up by Mr Kelvin as a shirt specialist in a single Glasgow store in 1988.