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LONDON, United Kingdom — British fashion retailer Ted Baker Plc on Wednesday reported higher retail sales in the key Christmas period, helped by a surge in online sales.
The company, which has close to 500 stores and concessions globally, said retail sales for the eight weeks to January 6 rose 9 percent.
However, Ted Baker said trading conditions are expected to remain challenging in the year ahead, acknowledging the pressure on British clothing retailers due to a decline in demand for clothing and inflation-squeezed consumer spending.
Still, the company said it would deliver full-year results in line with its expectations.
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Ted Baker, which has the bulk of its sales online and through concessions, said e-commerce sales in the same period rose 35 percent and now make up about 30 percent of its total retail sales.
The company, which opened its first store in Glasgow in 1988, sells suits, shirts and dresses, often sporting quirky details, helping it stand out from rivals.
By Rahul B; editors: Bernard Orr and Amrutha Gayathri.
