The clothing brand has enjoyed a prosperous period
thanks to an increased presence in the international market, with new
stores opening up away from the UK. A rise in online sales has also
helped to boost their sales and profits in recent months. Management
at Ted Baker believe that these factors have helped to balance out
the warmer weather that has caused problems for other UK retail
clothing chains such as Next.
A Strong International Reach
Ray Kelvin is the founder and chief executive of
the clothing firm. He pointed out that Ted Baker is now a global
brand with a “strong international reach”, which has helped to
lessen the impact of the local economic and weather related issues.
One possible downside to their increased global reach was noted by
Kelvin as being their exposure to currency fluctuations. This issue
took 2% off the company’s retail sales performance.
In fact, the sales increase for the three months
to 8 November stood at 15.7% compared to the same period a year ago.
A particularly strong performance from the brand in the Middle East
has been noted as one of the key factors behind their recent sales
surge.
The retailer’s expansion across the planet has led to new stores
being opened in Toronto and Las Vegas, along with additional
concessions in South Korea, Portugal, France, Spain and the US. In
terms of internet sales, an impressive 34.6% rise was reported.
The first half of this financial year had been
even better for Ted Baker. In this period, they saw sales shoot up by
17.4% and profits by 24%.Their full year wholesale sales growth
forecast for the full year has now been raised from 18% to 20%.
