Ted Baker trading ahead of expectations
FASHION retailer Ted Baker said today it continued to trade ahead of expectations after another strong performance from its UK stores.
The group said retail sales were up 19.1% in the period between November 1 and Christmas Eve, a trend that continued into the New Year sales.
Ray Kelvin, the firm’s founder and chief executive, said: "I am pleased to report that trading continued to exceed our expectations in a very competitive environment."
He said the retailer’s success in the UK reflected efforts on product design, as well as "attention to detail and excellent customer focus".
Shares rose more than 2% following the trading update, as Investec Securities lifted its profits forecast for the year to January 30 by 7% to £19.8 million.
Mr Kelvin added that the outlook for 2010 was still uncertain but said the firm was "well placed" in the year ahead.
In the UK and Europe it operates 32 stores, 122 concessions and 10 outlet stores. It reported some improvement in trading outside the UK, although trading conditions remain mixed.