Ted Baker benefits from global Jubilee fever

The group celebrated the royal festivities by giving out ginger beer during Jubilee week and some stores featured a Pearly King and Queen.

The firm, which has stores in Leeds, York, Sheffield and Hull, said its international expansion is continuing to pay off after it revealed another strong rise in sales.

The fashion brand said revenues from its store portfolio rose 16.2 per cent in the 19 weeks to last Saturday.

With the chain increasing its trading space by 12 per cent following last week’s opening of a new store on London’s Brompton Road and its first shop in Tokyo, the figure implies like-for-like sales growth of around four per cent.

The company said it was pleased with its performance across all territories despite a backdrop of challenging trading conditions.

The group is following in the footsteps of UK brands Burberry and Mulberry by building a global footprint.

It said it has “exciting” international store openings planned for the coming months, including Fifth Avenue in New York and Harbour City in Hong Kong, as well as stores in Toronto, Beijing and Shanghai.

Analysts at Seymour Pierce kept their profit forecast for the year to January unchanged at £29.5m and said the overseas expansion strategy has the potential to boost earnings growth over the medium term. In the UK, the company has around 32 shops, more than 140 concessions and 10 outlet stores.

Analyst Sanjay Vidyarthi, at Execution Noble, said: “Ted Baker has delivered yet another strong update

“Despite difficult and volatile conditions, Ted Baker has experienced resilient trading across key markets.”