Ted Baker boosted by global expansion

The designer fashion brand said revenues from its store portfolio, which includes outlets in the United States and Hong Kong, 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: "We are pleased with performance across all territories despite a backdrop of challenging trading conditions."

The group, which started as a shirt store in Glasgow in 1988, is following in the footsteps of UK brands Burberry and Mulberry by building a global footprint and last year opened stores in Hong Kong, Paris, San Diego and Manchester.

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.

Seymour Pierce stockbrokers kept its 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.

The clothing market in the UK has been under strain in recent months but more upmarket brands such as Ted Baker are thought to have benefited from demand from wealthy tourists, particularly from emerging markets.