Ted Baker sales jump as Chairman exits

Designer brand Ted Baker announced a solid rise in sales over the festive period as Non Executive Chairman Robert Breare confirmed he will step down after more than 11 years in the role.

Designer brand Ted Baker announced a solid rise in sales over the festive period as Non Executive Chairman Robert Breare confirmed he will step down after more than 11 years in the role.

David Bernstein, currently Senior Independent Non Executive Director, will succeed Breare with immediate effect.

Ted Baker reported a 20.9% increase in retail sales for the 8-week period from November 11th 2012 to January 5th 2013, compared to the same period last year.

Average retail square footage rose by 13.9% over the period to 273,340sq. ft.

Gross margins were in line with expectations and it expects to end the season with a clean stock position. It said there was no significant promotional activity pre-Christmas.

Founder and Chief Executive Ray Kelvin commented: "The group has delivered a good result over the Christmas period. We were pleased by the performance in markets where the brand is established and continue to build brand awareness in our newer markets, where we are investing for the longer term."

"We remain focussed on the continued development of the brand globally with further store openings planned in Shanghai, China in the first half of 2013."

CJ

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
5 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

House prices could fall 30%. Should investors be worried about a repeat of 2008?
Investments

House prices could fall 30%. Should investors be worried about a repeat of 2008?

Some analysts are predicting that house prices could fall as much as 30%, which, when compared to the fact that prices have jumped 28% since April 201…
24 Jan 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Wholesale gas prices are on a downward trajectory, but does this mean lower energy bills later this year?
27 Jan 2023
Council tax increases 2023 – how much more will you pay?
Tax

Council tax increases 2023 – how much more will you pay?

Your council tax bill will go up in April - we reveal the councils that have confirmed what this year’s increase will be.
23 Jan 2023