Ted Baker shines over Holiday Season
In this article (5)
Quirky fashion and lifestyle label Ted Baker has announced enviable Christmas trading results, with retail sales rising 10.1 per cent (10.6 per cent at constant currency) for the eight weeks to January 9.
Over the period, the group added 355,907 sqft to its selling space. This helped to augment sales opportunities in the run-up to Christmas, but also highlights that trading during the busiest time of the year did not hold back Ted Baker’s rapid expansion plans.
The group added concessions in the UK, France, Spain and California, in addition to licensed openings in the form of a new full-line store in Saudi Arabia, a concession in Mexico and outlets in Melbourne and Sydney.
This geographical spread once again highlights not only Ted Baker’s ambitions to be a truly global brand, but also its willingness to be flexible in its approach as it enters new markets.
Customer engagement was supported by the success of its ‘Wonders Never Cease’ video campaign, which showcased the brand’s Autumn/Winter range in typical Ted Baker story-telling fashion.
Despite tough trading conditions and a highly competitive landscape, the company managed to avoid significant discounting, ensuring that expectations around gross margins were met. Furthermore, its eCommerce business witnessed dazzling results, with a 39.1 per cent increase in sales signifying strong performance across all of the group’s sites.
A winning Christmas will help the company to secure a strong set of full-year results when the year closes on 30 January.
Questions & Answers
Q.What was the growth in Ted Baker's retail sales over the Christmas period?
What was the growth in Ted Baker's retail sales over the Christmas period?
Ted Baker reported a 10.1 per cent rise in retail sales for the eight weeks leading up to January 9. This figure increased to 10.6 per cent when measured at a constant currency.
Q.How did Ted Baker expand its physical presence during the holiday trading period?
How did Ted Baker expand its physical presence during the holiday trading period?
The group added 355,907 sqft to its selling space. This included new concessions in the UK, France, Spain and California, plus licensed openings in Saudi Arabia, Mexico, Melbourne and Sydney.
Q.What was the performance of Ted Baker's online sales during the holiday season?
What was the performance of Ted Baker's online sales during the holiday season?
The eCommerce business showed strong results, with a 39.1 per cent increase in sales. This signifies a robust performance across all of the group's online platforms.
Q.Did Ted Baker rely on discounting to achieve its sales figures over Christmas?
Did Ted Baker rely on discounting to achieve its sales figures over Christmas?
No, the company managed to avoid significant discounting. This approach ensured that expectations regarding gross margins were successfully met, despite tough trading conditions.
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