| CATEGORY: SMALL CAPS NEWS SECTOR: GENERAL RETAILERS |
Retail sales keep Ted Baker growing |
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Thu 13 Nov 2008
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LONDON (SHARECAST) - Strong growth in retail sales at fashion group Ted Baker offset a fall in wholesale turnover in the 13 weeks to 8 November.
Group revenue in the period rose 1.8% from a year earlier, with gross margins consistent with management’s expectations.
Retail sales rose 13.3% from a year ago, though this was achieved against a back-drop of a 17.1% increase in retail space. The group said trading was affected by the uncharacteristically warm weather during the period, and also the general economic uncertainty.
Wholesale sales fell 21%, with the later phasing of deliveries accounting for a proportion of the slide.
The level of reduction in wholesale sales for the second half of the financial year is expected to closer to the trend of the first half which was 12.1% below the level of the previous year, the group said.
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