Business

Ted Baker's sales boosted by overseas growth

Picture from Ted Baker's website
Image caption Ted Baker has been expanding overseas

Fashion brand Ted Baker has reported a rise in half-year sales, helped by expansion overseas.

Its total sales for the six months to 9 June were 16% higher than a year earlier, boosted by expansion of its US wholesale business.

The UK company also opened its first store in Tokyo, and new concession spaces in Netherlands and South Korea.

Ted Baker did not reveal a like-for-like sales figure, which pulls out the impact of new openings.

Analysts said that although the figures were boosted by these new shops, they indicated the resilience of the brand in difficult times.

"Despite this more muted consumer backdrop Ted Baker has been able to post solid results because it has persuaded customers it is worthwhile paying a premium for product which has a quality edge as well as strong design credentials," said Neil Saunders of retail analysts Conlumino.

"This flight to quality has been a notable trend during the downturn," he added.

Its founder and chief executive, Ray Kelvin, said: "The group has made a good start to 2012, despite continued uncertainty in the trading environment."

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