Ted Baker soars amid the discounts


Click to follow
The Independent Online

Ted Baker put in a barnstorming performance this Christmas with a sharp rise in sales, despite fierce discounting on the high street, and has announced the departure of non-executive chairman Robert Breare, to be replaced with immediate effect by Football Association chairman David Bernstein.

The fashion brand has also revealed plans to open its first store in Shanghai in March but added trading at its new flagship in New York had been hit by the "interruption" of the United States election in November.

The brand said London had been one of its best-performing regions in the UK over Christmas.

Ted Baker delivered total sales up by 20.9 per cent over the eight weeks to 5 January and maintained its policy of not discounting until Boxing Day. Given the retailer grew its total shop space by 13.9 per cent over the period, like-for-like sales rose by approximately 7 per cent.

Chief executive Ray Kelvin said: "It is a good performance, particularly because there was even discounting before Christmas." He cited robust growth in womenswear and accessories.