Clothing retailers report jump in festive sales
TED Baker has joined fellow fashion chains Superdry and Quiz in reporting strong festive sales.
Retail sales at Ted Baker jumped by 9 per cent in the eight weeks to January 6 compared to the year before, causing shares to rise by 7 per cent yesterday in morning trading on the London Stock Exchange.
Online sales proved a bright spot for the retailer, jumping 35 per cent over the period and counting for nearly a third of total sales.
Superdry also enjoyed a healthy Christmas performance, with like-for-like retail sales climbing 4.7 per cent for the 10 weeks to January 6.
The fashion firm booked a 13 per cent rise in group revenue to £215.6 million during the period, as online and wholesale revenues expanded by 31 per cent and 20 per cent respectively.
Women's fashion brand Quiz saw sales sparkle during the crucial festive trading period, booking a 32 per cent rise in revenues for the seven weeks to January 6.