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Ted Baker reports strong Q3 sales amid store expansion
Nov '13
Driven by a robust store expansion drive and strong sales from the domestic and export markets, British designer clothing brand, Ted Baker Plc. posted impressive sales growth numbers in the third quarter of this year.
The lifestyle brand, famous for its classic cuts, posted a 24.4 per cent increase in Group revenue to 77.1 million pounds for the 13 –week period ended 9th November 2013, from the same period a year ago.
Retail sales were up 19.8 per cent to 58.1 million pounds in the third quarter of this financial year from the year ago period. 
The rise in retail sales, which account for more than 80 per cent of the company’s revenue, was boosted by an 11.4 per cent increase in average square footage last quarter.
Strong performance in established markets coupled with the development of the Ted Baker brand in new markets underpinned the company’s robust sales performance last quarter as the company opened further concessions in leading departmental stores in the US, Netherlands, France, Spain and Germany.
Wholesale sales rose 40.8 per cent to 19 million pounds driven by improved performance in the domestic market and in the US.
The company is confident of continuing to deliver high sales performance in the coming months driven by further store openings and the strength of the Ted Baker brand in established markets. 
For the coming months, Ted Baker has planned new store openings in Hong Kong and Gatwick South and three stores though its license partners with two in the Middle East and one in Turkey. 
The company will continue to rely on its women’s wear segment, which accounts for more than 50 per cent of total revenue, for its sales growth, going forward. 
With its Autumn/Winter collections receiving good response across globally, Ted Baker is likely to score high in terms of sales numbers during the Christmas trading period.

Fibre2fashion News Desk - India

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