TED BAKER shares surged over five per cent yesterday after the fashion retailer revealed that group sales leapt by 24.4 per cent to £77m in the third quarter of the year.
The company said all channels were flourishing, with retail sales up 19.8 per cent to £58.1m in the 13 weeks to 9 November, driven by an 11 per cent increase in its store space to over 300,000 square feet.
Wholesale sales jumped by 40.8 per cent to £19m after its UK and US business improved.
The brand, led by its founder Ray Kelvin, has been pushing ahead with its expansion overseas, with further openings in Abu Dhabi, Singapore and its first store in Turkey.
“The reaction to our autumn/winter collections across all our international markets has been very encouraging and we have further store openings planned for the coming months in Hong Kong and Gatwick South,” Kelvin said.
“We are pleased with our continued strong performance to date however, as ever, the our full year results will be dependent on trading over the key Christmas period,” he added.