Ted Baker sees festive sales up 20%
Fashion retailer Ted Baker has reported better-than-expected trading for the festive period after sales jumped by more than a fifth.
The firm, which has over 380 stores and concessions worldwide, said total revenues leapt 22.8% in the eight weeks to January 3 compared to a year ago. It did not provide a figure excluding new store openings.
The business said it was able to make these sales without resorting to the "significant promotional activity" that was a feature of the high street in the run-up to Christmas. Shares in the group, which sells men's suits and womenswear, lifted more than 3%.
Ted Baker's results are in contrast to high street giant Marks & Spencer, which has reported like-for-like sales at its general merchandise division down by a bigger-than-expected 5.8% over Christmas. The company added that online sales were up 65.7%, reflecting continuing growth in the UK and a strong performance in the United States following an upgrade to the site last July.
The retailer said: "Performance across our established territories has remained strong and we continue to invest in our newer markets for the long-term opportunities of the Ted Baker brand."