Jun 14, 2011
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Ted Baker sales rise on wholesale boost

Jun 14, 2011

Jun 14 - British designer clothing brand Ted Baker said its total sales for the 19 weeks of the year to date grew 15 percent, aided by a strong wholesale business, particularly in the United States.

Ted Baker
Ted Baker store on rue des Francs Bourgeois, Paris

The fashion retailer, which had its beginnings as a menswear brand in Glasgow in 1987, said it expected wholesale sales for the full year about 10 percent ahead of last year.

"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 territories," founder and Chief Executive Ray Kelvin said in a statement on Tuesday.

Ted Baker, which has operations in the UK, the United States, continental Europe, the Middle East and Asia, said wholesale sales for the 19-week period were up 42.1 percent, while retail sales rose 9.4 percent.

On March 24, the company said it expected an up to 10 percent growth in profit in the current financial year as it planned to expand in the international markets.

Ted Baker shares closed at 751 pence on Monday on the London Stock Exchange, valuing the company at 310 million pounds ($505.6 million).

(Reporting by Tresa Sherin Morera in London; Editing by Rosalba O'Brien)

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