Ted Baker sees jump in sales after customers stock up on party frocks and suits

Ray Kelvin unveiled a 22.8% jump in retail sales for the eight weeks to 3 January

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The Independent Online

Ted Baker was firmly in fashion this Christmas as women splashed out on partywear and men treated themselves to new suits.

Founder and chief executive Ray Kelvin, who grew the brand from a shop in Glasgow to a global player, unveiled a 22.8 per cent jump in retail sales for the eight weeks to 3 January, with online sales jumping nearly 66 per cent.

He said: "We’re in the sweet spot with regards to the marketplace. Womenswear did well, we did really well on partywear, accessories and men’s suiting."

The group is trading well from its new store at Heathrow’s Terminal 4 and the loyalty of its customers meant that it had little need for pre-Christmas promotions

"We never have. People don’t want to buy gifts from Ted Baker marked down."

The shares today advanced 57.5p, or almost 3 per cent, to 2317.5p.

Edison analyst Sohil Chotai said: "Ted’s quirky, differentiated offering gives it a unique offer that allows the company to discount less, create higher-quality products and invest to grow the brand internationally."

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