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Reuters
Published
Jun 15, 2010
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Ted Baker says well positioned as sales rise

By
Reuters
Published
Jun 15, 2010


Ted Baker- SS 2010

LONDON, June 15 (Reuters) - British designer brand Ted Baker (TBK.L) posted a sharp rise in revenue for the bulk of its first half and said it was well placed for more growth despite tough macro economic headwinds.

Ted Baker, which has operations in the UK, U.S., continental Europe, the Middle East and Asia, said on Tuesday revenue increased 18.0 percent in the 19 weeks to June 12 with gross margins in line with management expectations. The firm said retail sales rose 20.4 percent, with the UK performing well and overseas markets showing an improving trend, while wholesale sales increased 8.2 percent.

Ted Baker said its product and territorial licences continued to perform in line with internal hopes.

"Whilst we remain mindful of the uncertain economic environment, we believe we are well positioned to deal with the challenges ahead," added the company.

Shares in Ted Baker, which have increased 36 percent over the last year, closed at 505 pence on Monday, valuing the business at 210 million pounds ($308 million).

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