Trendy fashion label Ted Baker today said colder weather in the run-up to Christmas helped turn around a sluggish start for its autumn and winter collection.
The London-based chain, which has just opened a new flagship store in Covent Garden, said total sales in its retail operations between 1 November and Christmas Eve were up 19.3% on the same period in 1991.
The rise contrasts sharply with an increase of just 3.5% in the first seven weeks of the second half from 11 August reflecting weaker menswear sales as milder weather hit demand for winter clothing.
Founder and chief executive Ray Kelvin said: “It was just a slower start because it was particularly warm weather, as soon as the colder weather kicked off that turned around.”
Kelvin said there had been a strong performance across its product lines with continued success for its Endurance range which includes crease-resistant suits and anti-bacterial garments which keep the wearer smelling fresh throughout the day.
Despite mixed figures across the retail sector in general, Kelvin said he was confident the company would continue to perform well this year.
The company also said it was planning to relocate at least three other stores, which would lead to an exceptional cost of around £1.6m in the financial year which ends on 25 January.
On 30 November the chain, which opts for word-of-mouth rather than advertising, opened its largest store on Floral Street, Covent Garden, taking the total number of stand-alone branches to 20 including in Leeds, Glasgow and the Bluewater centre in Kent.
Earlier in 2002 the company opened a store in Paris and expanded its operation in New York as well as adding five new concessions and a branch in Heathrow Airport Terminal Four.
Shares were up 6p at 216p today.
EGi News 15/01/03
