Ted Baker shrugs off tough market conditions

Fashion retailer Ted Baker today said it had enjoyed a surge in festive sales after holding its nerve and avoiding heavy price cuts.

The designer label, founded by chief executive Ray Kelvin as a Glasgow shirt store in 1988, saw retail sales soar 18.3 per cent in the eight weeks to 4 January.

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Kelvin said sales since Christmas have been “particularly strong” and full-year profits, due to be published in March, would be in line with expectations.

He added: “The group has delivered a strong result over the Christmas period in a competitive trading environment, reflecting the strength of the brand and quality and design of our product.

“We remain pleased by the brand’s performance in our established territories and continue to invest in newer markets for the long-term development of Ted Baker as a global lifestyle brand.”