E-commerce takes centre stage as Ted Baker reports festive sales surge
Ted Baker saw its retail sales rise 9% YOY in the eight-week period to 6th January. Online sales surged by 35%, representing 30.1% of total retail sales. Average retail square footage rose by 5.9% to 409,226 sq.ft as the Group opened a new store in Montreal, with further concession openings in Germany and Spain and with its licence partners, an additional store in each of Malaysia, Mexico and Qatar.
"The Ted Baker brand has continued to perform in line with expectations over the Christmas period, delivering a good retail performance driven by particularly strong growth from e-commerce, which is an increasingly important part of our retail business. This pleasing result reflects the strength of the brand and the quality of our collections as well as the hard work, skill and commitment of our teams,” says Ray Kelvin, Founder and Chief Executive. “Whilst external trading conditions are expected to remain challenging in the year ahead, the strength of our brand and business model means that we remain well positioned to continue the long-term development of Ted Baker as a global lifestyle brand."