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Retailer Ted Baker reports 7.3 percent rise in sales

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Retailer Ted Baker reports 7.3 percent rise in sales

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(Reuters) – British fashion retailer Ted Baker said on Thursday revenue for the 13 weeks to November 11 had risen by 7.3 percent, helped by strong sales in its online business. The group said its e-commerce sales rose by 30.5 percent andrepresented 19.2 percent of total retail sales. Ted Baker’s retail sales for the period, which include online, rose by 4.6 percent. Ted Baker also reported wholesale sales for the period increased by 14.2 percent, helped by performance of wholesale business in UK and North America. Ted Baker, which opened its first store in Glasgow in 1988, said retail and wholesale gross margins were in line with its expectations and anticipated low double-digit wholesale sales growth for the full year. The company continued expansion with the opening of a new store in Oxford and further concessions in premium department stores in Canada, Germany and the UK.

(Reporting by Bhanu Pratap in Bengaluru. Editing by Jane Merriman)
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