SHARES in Ted Baker hit an all-time high yesterday after strong demand in the UK and its expansion overseas helped the fashion brand post forecast-beating sales.
The retailer shrugged off the poor weather that has hampered its peers and posted a 30.7 per cent leap in retail sales in the 20 weeks to 15 June. The firm opened its first concession in France and added more in Spain, Netherlands, and Toyko as well as a store and outlet in Shanghai. It plans to open up to nine concessions in the US this year.
Chief executive Ray Kelvin, who founded Ted Baker 25 years ago, said:
“We are continuing to invest in developing the Ted Baker brand internationally and have been encouraged by the reaction to the brand and the collections.”
Shares closed up 15.7 per cent at 1,700p yesterday.