Higher revenues at Ted Baker
UK designer brand Ted Baker has posted an 8.4% annual increase in group revenue for the 19-week period from January 27 to June 7.
Sales for the period rose 15.4% year-on-year, driven by strong spring-summer collections. However, wholesale sales for the period fell 8.6% compared with the same period last year.
The company anticipates that conditions will remain challenging for some of its wholesale customers in 2008 and is expecting wholesale sales for the year to be lower than for the prior-year period.
Founder and chief executive, Ray Kelvin, said: "Considering the tougher retail climate, we have been pleased with our performance across the group and the positive reaction from customers to our spring-summer collections.
We plan to open further stores in White City (London), Bristol and Liverpool in the second half of the year and a further licensed store will open in Dubai in early September."
