Clinton Cards and Ted Baker add to retailers' festive cheer

Clinton Cards and Ted Baker both issued buoyant trading updates yesterday, rounding off an upbeat week of festive reporting on the high street.

Their strong performances suggest that Christmas cheer permeated throughout the retail sector during the festive season following a dreadful end to 2008, although many stores remain cautious about the year ahead.

Clinton Cards, the UK's biggest greeting cards retailer, has 676 Clinton and 184 Birthdays stores. Its underlying sales for the five weeks to 3 January rose by 3.6 per cent, boosted by a "resolution of supply chain issues that continued to impact until late autumn".

Clinton said it had paid off the final £12m instalment of its net debt ahead of schedule yesterday. The chairman, Don Lewin, added: "We have performed well during the crucial Christmas period despite the adverse weather affecting many of our stores.

"We expect 2010 to be another tough year but we believe we are well placed to meet the challenges."

The busy festive trading period helped Clinton Cards to post like-for-like sales for the 22 weeks to 3 January that were 3.5 per cent higher than the same period a year ago. It said its performance for the first few days of 2010 had been in line with expectations.

The retail and wholesale fashion brand Ted Baker was also celebrating as it reported a 19.1 per cent jump in retail sales for the period from 1 November to 24 December, driven by a UK performance that beat expectations and which has continued in 2010.

The group, which has 34 stores, eight outlet shops and concessions in House of Fraser, John Lewis, Harrods and Selfridges, attributed the sales increase to its "innovative product design", but said menswear had performed better than womenswear.

Ray Kelvin, the founder and chief executive of Ted Baker, said: "People are fed up with doom and gloom."

The group said the performance of its overseas operations was improving but trading conditions remained mixed. Ted Baker has 10 shops in the US, and Mr Kelvin said: "Things are getting better in America and that will soon filter down to customers."

He added that Ted Baker's gross margins had risen by 2.5 per cent since this time last year.

PROMOTED VIDEO
News
business
News
Mick Jagger performing at Glastonbury
people
Life and Style
beautyBelgian fan lands L'Oreal campaign after being spotted at World Cup
Sport
Germany's Andre Greipel crosses the finish line to win the sixth stage of the Tour de France cycling race over 194 kilometers (120.5 miles) with start in Arras and finish in Reims, France
tour de franceGerman champion achieves sixth Tour stage win in Reims
Extras
indybest
Arts and Entertainment
Characters in the new series are based on real people, say its creators, unlike Arya and Clegane the Dog in ‘Game of Thrones’
tv'The Last Kingdom' is based on historical events
News
ebookA unique anthology of reporting and analysis of a crucial period of history
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Build & Environment Management Team Leader 12 months c. 550 p/d

£500 - £550 per day: Deerfoot IT Resources Limited: Build & Environment Manage...

Product Manager / Product Owner - Financial Data

£70000 - £85000 per annum + BONUS + BENEFITS: Harrington Starr: A leading prov...

SQL Developer (Financial Services) - London

£52000 - £57000 per annum + bonus, pension, private healthcare : Ashdown Group...

Senior FIX Analyst - (FIX, SQL, Equities, Derivatives)

£60000 - £90000 per annum: Harrington Starr: A leading provider of buy side tr...

Day In a Page

The true Gaza back-story that the Israelis aren’t telling this week

The true Gaza back-story that the Israelis aren’t telling this week

A future Palestine state will have no borders and be an enclave within Israel, surrounded on all sides by Israeli-held territory, says Robert Fisk
A History of the First World War in 100 Moments: The German people demand an end to the fighting

A History of the First World War in 100 Moments

The German people demand an end to the fighting
New play by Oscar Wilde's grandson reveals what the Irish wit said at his trials

New play reveals what Oscar Wilde said at trials

For a century, what Wilde actually said at his trials was a mystery. But the recent discovery of shorthand notes changed that. Now his grandson Merlin Holland has turned them into a play
Can scientists save the world's sea life from

Can scientists save our sea life?

By the end of the century, the only living things left in our oceans could be plankton and jellyfish. Alex Renton meets the scientists who are trying to turn the tide
Richard III, Trafalgar Studios, review: Martin Freeman gives highly intelligent performance

Richard III review

Martin Freeman’s psychotic monarch is big on mockery but wanting in malice
Hollywood targets Asian audiences as US films enjoy record-breaking run at Chinese box office

Hollywood targets Asian audiences

The world's second biggest movie market is fast becoming the Hollywood studios' most crucial
Grindr founder Joel Simkhai: 'I've found love on my dating app - and my mum keeps trying to hook me up!'

Grindr founder Joel Simkhai: 'I've found love on my dating app'

Five years on from its launch and Grindr is the world's most popular dating app for gay men. Its founder Joel Simkhai answers his critics, describes his isolation as a child
Autocorrect has its uses but it can go rogue with embarrassing results - so is it time to ditch it?

Is it time to ditch autocorrect?

Matthew J X Malady persuaded friends to message manually instead, but failed to factor in fat fingers and drunk texting
10 best girls' summer dresses

Frock chick: 10 best girls' summer dresses

Get them ready for the holidays with these cool and pretty options 
Westminster’s dark secret: Adultery, homosexuality, sadomasochism and abuse of children were all seemingly lumped together

Westminster’s dark secret

Adultery, homosexuality, sadomasochism and abuse of children were all seemingly lumped together
A History of the First World War in 100 Moments: Dulce et decorum est - a life cut short for a poet whose work achieved immortality

A History of the First World War in 100 Moments

Dulce et decorum est: a life cut short for a poet whose work achieved immortality
Google tells popular music website to censor album cover art in 'sexually explicit content' ban

Naked censorship?

The strange case of Google, the music website and the nudity take-down requests
Howzat! 8 best cricket bats

Howzat! 8 best cricket bats

As England take on India at Trent Bridge, here is our pick of the high-performing bats to help you up your run-count this summer 
Brazil vs Germany World Cup 2014 comment: David Luiz falls from leader figure to symbol of national humiliation

David Luiz falls from leader figure to symbol of national humiliation

Captain appears to give up as shocking 7-1 World Cup semi-final defeat threatens ramifications in Brazil