Ted Baker celebrated an impressive revenue growth today after a year of expansion in e-commerce.
In its trading update this morning, Ted Baker reported an 11.3 per cent increase in revenue for the 19 weeks between 31 January and 11 June 2016.
Compared to the same period last year, retail sales were up 12.7 per cent and the company increased its retail square footage by 9.7 per cent.
The firm also upped its online presence, with the e-commerce sales increasing by 32.3 per cent.
Following the good news, Ted Baker's share price was up by 2.06 per cent in early morning trading.
Why its interesting
Ted Baker's commitment to online is paying off for the business; as high-street stores such as Austin Reed and BHS falter, Ted Baker has bolstered its international reach by launching its first language-specific website in Germany.
The company has also opened stores in Azerbaijian, Egypt, Mexico and Taiwan.
High-street footfall recovered slightly in May, but Ted Baker's focus on online is essential, as analysts say footfall trends are not necessarily on the up – they would need to see a three-month increase in footfall to feel confident of a recovery on the high-street.
What Ted Baker said
Ray Kelvin, chief executive, said:
These results demonstrate the strengths of the brand. Underpinned by our unwavering focus and passion across all of our products and distribution channels, the talent and dedication of our global teams continue to execute our multi-channel growth strategy. We are very pleased with the response from our customers over this period and remain well positioned to deliver our expectations for the full year.