Ted Baker streets ahead as Q1 sales leap 15%

STRONG demand in Asia and the Middle East helped fashion designer Ted Baker to yesterday post a 15.2 per cent jump in first-quarter sales.

The company - which makes a variety of clothes ranging from men's suits to women's lingerie - bucked the downbeat mood on the UK high street to report a 9.4 per cent sales rise from its shops and a 42.1 per cent leap in its wholesale business.

Although the firm did not reveal profit figures, Ted Baker did warn that "retail gross margin is slightly below last year due to the mix of product sales and a higher level of promotional activity in our markets".

Founder and chief executive Ray Kelvin said: "The group has made a good start to 2011. Our collections have been well received as we continue to expand the brand into new territories. In the second half, we plan to open stores in the UK, New Zealand, China and America,"

Freddie George, retail analyst at stockbroker Seymour Pierce, said: "The trading update is pretty reassuring, considering the difficult trading environment in the UK, particularly in March and May."

Numis analyst Andrew Wade added that the figures were "better than anticipated".