Ted Baker cuts a dash with 24% jump in sales

Fashion brand Ted Baker today reported a 24.2 per cent jump in sales for the first 18 weeks of its new financial year, boosted by a surge in wholesale revenues.

The firm, which began life in 1988 as a single Glasgow shirt store, said a strong performance in the UK and North America saw wholesale takings leap 41.2 per cent, as sales on the other side of the Atlantic benefited from a strong start to the summer season.

Retail sales rose 18.9 per cent, with selling space growing by 6.6 per cent to 345,399 square feet.

Founder and chief executive Ray Kelvin said the group was on track to meet expectations for the full year following its “strong start”.

He added: “The Ted Baker brand continues to perform very well and we have delivered further progress across our global markets and distribution channels.”

The company has 414 stores and concessions worldwide, including 184 in the UK.