FASHION retailer Ted Baker has reported better-than-expected trading for the festive period after sales jumped by more than a fifth.
The firm, which has some 380 stores and concessions worldwide, said total revenues leapt 22.8 per cent in the eight weeks to 3 January compared with a year ago. It did not provide a figure excluding store openings but added that it did not resort to the “significant promotional activity” that was a feature of the high street in the run up to Christmas.
The results are in contrast to high street giant Marks & Spencer, which yesterday reported like-for-like sales at its general merchandise division down by a bigger-than-expected 5.8 per cent over Christmas.
It also set a benchmark for other fashion firms such as Burberry and Asos ahead of their festive trading updates next week.
Ted Baker, which was founded as a shirt specialist in a single Glasgow store in 1988, added that online sales were up 65.7 per cent, reflecting continuing growth in the UK and a strong performance in the United States following an upgrade to the site last July. The retailer added: “Performance across our established territories has remained strong and we continue to invest in our newer markets for the long-term opportunities of the Ted Baker brand.”
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