Ted Baker reports growth of 14.6% in revenue for 19 week period

With an increase of 16.2 per cent in retail sales,

British designer brand, Ted Baker reported its financial results for the 19 week period that ended June 2012. Group’s revenue sore by 14.6 per cent compared to the same period last year.

Average retail square footage increased 12 per cent to 259,936 sq ft as compared to 232,157 sq ft in 2011. While, wholesale sales for the period was reported to have grown by 8.9 per cent, compared to same term last year. Gross margins were, as anticipated, in line with last year.

The company opened additional concessions in the US, Spain and Ireland and a new store on the Brompton Road, London. Expanding its business internationally, Ted Baker opened its first store in Tokyo, Japan, and new concessions with leading department stores in the Netherlands and South Korea.

Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said, " We continue to develop the Ted Baker brand in the UK and overseas. We opened a new store in London last week, and have exciting international store openings planned for the coming months, including Fifth Avenue, New York, Harbour City, Hong Kong and our first stores in Toronto, Canada, along with Beijing and Shanghai, China.