Ted Baker strengthens its global presence

The group, which has more than 30 wholly-owned stores and more than 140 concessions in the UK, saw retail sales grow 9.4 per cent in the 19 weeks to June 11.

Brokers Numis said the figure implied like-for-like growth of more than five per cent for the period.

The fashion label, which has its origins as a menswear brand in Glasgow in 1987, yesterday said it plans to open a second store in Manchester, as well as in New Zealand, America and its first in mainland China.

It recently opened shops in Paris and Hong Kong and its first Manchester branch and it now has more than 260 stores and concessions around the world.

Britain’s high streets have been hit by a consumer spending clampdown as stores from HMV to Next and JJB Sports to Mothercare all struggle with the tough conditions.

Ted Baker, which reported a 15.2 per cent increase in group revenues for the period, warned increased competition in the fashion retail sector led to its retail margins decreasing slightly compared to last year.

The wholesale division saw sales surge 42.1 per cent above the same period last year, driven by strong performances in the US and UK.

Ray Kelvin, founder and chief executive, said: “The group has made a good start to 2011. Our collections have been well received across our international markets as we continue to expand the brand into new territ- ories.”

The company also said it increased its average retail square footage by 4.4 per cent as it increased the number of concessions as well as new stores in the period.

In its interim management statement, it said: “Whilst the macroeconomic environment remains uncertain, we believe Ted Baker.... will continue to develop and expand in existing and new international markets.”

Andrew Wade, an analyst at Numis, upgraded full year pre-tax profit expectations for the firm from £26.5m to £26.9m.

He said: “Having posted a strong first quarter performance against the toughest comparatives of the year and perhaps more importantly not having been afflicted by the recent high street weakness, this was an encouraging up- date.

“Although April, was unsurprisingly, the high point of the quarter, Ted Baker has not seen sales slip dramatically in the later parts of May as we have been hearing from some others on the high street.”