Ted Baker posted a jump in third-quarter sales yesterday as its fast-growing portfolio of stores overseas helped to ease the impact of the warm Autumn weather that has plagued retailers in the UK.
The British clothing brand, which was originally founded as a shirt specialist in Glasgow 26 years ago by chief executive Ray Kelvin, said group revenue rose 15.7 per cent in the 13 weeks to 8 November compared with the same time last year.
Retail sales rose 12.7 per cent thanks to new store openings and a good reception to its autumn/ winter range. Wholesale sales grew 24.7 per cent and are expected to be up 20 per cent for the year.
Ted Baker has been pushing ahead with its expansion overseas and has launched new stores in Las Vegas and Toronto, and further concession openings in the US and across Europe.
It now has 32 UK stores and 30 in the Americas, Europe, the Middle East and Asia, as well as several concessions and licenced stores.
Kelvin said: “The reaction to our autumn/winter collections across our international markets has been very encouraging and we have further store openings planned for the coming months in Miami and Heathrow Terminal 4, and a further outlet store in China.”
Shares in the FTSE 250 company, which have risen about 16 per cent over the last 12 months, edged down slightly by 0.29 per cent yesterday to 2,079p.