Ted Baker releases interim results for the 28 weeks ended 11 August 2012.
• Retail sales up 15.4% on a 12.6% increase in average retail square footage
- UK and European retail sales up 7.9% to £74.7m
- US retail sales up 53.3% to $25.6m
- Rest of the world retail sales up 58.1% to £2.8m
• E-commerce sales up 82.4% to £6.2m
- Planned expansion continued with the opening of:
- Our first store in Tokyo, Japan and first concessions in South Korea and the Netherlands
New stores in existing markets on the Brompton Road, London, Fifth Avenue, New York and Harbour City, Hong Kong
• Wholesale sales up 15.4% to £24.9m
• Licence income up 19.2% to £3.7m
Commenting, Ray Kelvin CBE, Founder and Chief Executive, said:
"We have delivered good results in a challenging environment whilst making important investments for the long term development of the brand, including opening new stores in Tokyo and on Fifth Avenue, New York.
We are especially pleased with the positive reaction to our Autumn/Winter collections and I am delighted with the openings, since the period end, of our first store in China in Beijing and our first concessions in Germany, as we continue to build Ted's global presence.
As ever, our full year results will be dependent on trading in the important second half and we remain understandably cautious at this stage given the uncertainty in the global economy. However, we believe that we are well placed to deal with the challenges ahead."
Ted Baker is a leading global lifestyle brand distributing across five continents through its three main distribution channels: retail (including e-commerce); wholesale; and licensing. Ted Baker has almost 300 stores and concessions worldwide, comprising of 179 in the UK, 41 in Europe, 47 in the US, 28 in the Middle East and Asia and 4 in Australasia.
