Driven by robust retail sales during the Christmas period, British lifestyle brand, Ted Baker Plc., witnessed a strong end to 2013 as the company’s brand gains traction in overseas markets.
The company, which is engaged in designing, wholesaling and retailing of menswear, womenswear and related accessories, and is famous for its classic cuts, reported an 18.3 per cent rise in retail sales in the eight- week period from 10 November 2013 to 4 January 2014 from the same period a year ago.
The company witnessed strong sales over the Christmas shopping period, when consumer spending tends to be at its peak as Ted Baker maintained a competitive edge over its peers, underpinned by the strength of its brand and product quality.
Ted Baker reported strong sales performance in the UK and Europe in the eight weeks ended January 4, 2014 despite strong competition in the fashion industry.
A recovery in the UK economy and a gradual revival in Europe bode well for the sales outlook of Ted Baker Plc.
The company witnessed strong revenue from internet sales in UK and Europe following the launch of its new UK e-commerce platform in the beginning of November.
Owing to the fast gaining popularity of the Ted Baker brand, the company witnessed strong performance in the US and Canada in the eight weeks ended January 4, 2014.
Spreading its wings into the fast emerging markets in Asia, Ted Baker is optimistic over the brand gaining foothold in the region, going forward.