Ted Baker sees strong future as sales surge

BRITISH retailer Ted Baker has seen an 18 per cent hike in revenue after store sales in the UK and overseas remained strong and ahead of the company’s expectations.

Sales for the half-year period ending 12 June were up by 20.4 per cent from last year, while Ted Baker’s wholesale business saw an 8.2 per cent climb in sales activity.

Chief executive and founder Ray Kelvin said the group has made a good start to the financial year, with sales bolstered by overseas markets.

The group noted the success of its Asian business and said that its recently acquired stores in Hong Kong continued to perform well.

He said: “Whilst we remain mindful of the uncertain economic environment, we believe we are well positioned to deal with the challenges ahead.”

Ted Baker is currently planning further expansion within the US and will open four new stores, including one in New York, before the end of the year.