📈 Strong Q3 Growth
Ted Baker had a strong quarter despite market challenges. Group revenue grew 14% in the 13 weeks to November 12. Retail sales were up 15.4%, and wholesale revenue grew 13.2%. Even with currency impacts, constant currency revenue rose 6.7%.
💻 E-Commerce Skyrockets
E-commerce sales surged 30.3%, with a 25.9% rise in constant currencies. Online now makes up 15.6% of total sales. Strong digital demand suggests Ted Baker’s online strategy is paying off. Retail space also grew 8.8%, boosting sales further.
🌍 Global Expansion
Ted Baker expanded in Atlanta, Miami, and Calgary, plus department store concessions in China, Germany, Japan, and Spain. It also relocated stores in New York and Hong Kong. Licensed stores opened in Dubai, South Africa, and Mexico, fueling international growth.
🎄 Holiday Season Ahead
CEO Ray Kelvin said new collections have been well received. However, the company’s full-year results will depend on Christmas trading. With strong wholesale performance in the UK and North America, Ted Baker expects low double-digit wholesale growth for the year.
Will Ted Baker’s online success continue into 2024?
