For the 13-week period from 10th August to 8th November 2008, Ted Baker’s wholesale sales for the period were 21.0% below last year’s numbers partly due to the later phasing of deliveries and the challenging trading conditions experienced by customers. The stylish British clothing brand expects the wholesale sales for the full year to be below the level achieved for 2007. However, Ted Baker believes the level of reduction in wholesale sales for the second half of the year to be closer to the trend of the first half, which was 12.1% below the level of the previous year.
On a whole, Ted Baker is content with the Group’s revenue increase of 1,8% compared to the same period last year. Retail sales for the period were 13.3% above the same period last year and average retail square footage rose by 17.1% over the period to 180,194 sq.ft. in relation to 153,901 sq.ft. over 2007. The period was affected by both unseasonably warm weather, in contrast to a period of cold weather last year and increased economic uncertainty.
During the period Ted Baker opened stores in the Cabot Circus development in Bristol and in the second phase of the Liverpool One development in Liverpool City centre. The brand is also launching two stores in Westfield London. The second store, located in the luxury village, is the new Ted Baker Pashion store, which showcases our affordable luxury designer collections.
Commenting on trading, Ray Kelvin, Founder and Chief Executive, said: “We continue to focus on high product quality, design and attention to detail and have been pleased with the overall response to the stores we opened during the period. We remain mindful of the current economic uncertainty and will continue to manage our business carefully. We believe that the strength of the Ted Baker brand combined with our robust multi channel international distribution means we are well positioned to deal with the challenges ahead.”
Image: Ted Baker