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Ted Baker enjoys ‘excellent’ Christmas trading

Designer clothes store – which is plotting expasnsion into New York, Tokyo and Beijing – says sales rose 15.7% in the eight weeks to 7 January

Designer brand Ted Baker emerged as the latest Christmas high street winner when it announced a sharp rise in sales over the festive period.

The group said its retail sales increased 15.7% in the eight weeks to 7 January, driven by a 7.3% rise in new space. It said margins were inline with expectations and, as in previous years, there was no significant promotional activity pre-Christmas.

“We have been very pleased with the performance across all of our markets,” it said, adding it expected profits for the year ending 28 January would also be inline with expectations.

Ted Baker has 31 stores in the UK along with 144 concessions. It also has presence in Europe, the Middle East, the US and Australia. It plans to open a store on Fifth Avenue in New York this year, along with its first stores in Tokyo and Beijing.

Founder and chief executive Ray Kelvin said: “The group has delivered an excellent result over the Christmas trading period. In a challenging trading environment, this performance is a testament to the strength of the Ted Baker brand, our collections and people.

“Whilst we are very mindful of the wider macroeconomic uncertainty, we remain focused on the strategic development of the brand.”

Shares in Ted Baker, which have risen 7% over the last year, closed on Thursday at 700p, valuing the business at £291m. © 2012 Guardian News and Media Limited or its affiliated companies. All rights reserved. | Use of this content is subject to our Terms & Conditions | More Feeds