Cloth­ing re­tail­ers Ted Baker and Quiz hold their own de­spite chal­leng­ing mar­ket­place

Yorkshire Post - Business - - BUSINESS -

SHARES IN Ted Baker rose seven per cent in trad­ing on the Lon­don Stock Ex­change af­ter re­tail sales jumped 9 per cent in the eight weeks to Jan­uary 6 com­pared to the year be­fore.

On­line sales proved a bright spot for the re­tailer, ris­ing 35 per cent over the pe­riod and count­ing for nearly a third of to­tal sales.

How­ever, founder and chief ex­ec­u­tive Ray Kelvin, pic­tured, said he ex­pected the dif­fi­cult trad­ing en­vi­ron­ment to per­sist in the com­ing year.

He said: “The Ted Baker brand has con­tin­ued to per­form in line with ex­pec­ta­tions over the Christ­mas pe­riod, de­liv­er­ing a good re­tail per­for­mance driven by par­tic­u­larly strong growth from e-com­merce, which is an in­creas­ingly im­por­tant part of our re­tail busi­ness.”

Women’s fast fash­ion brand Quiz saw sales sparkle dur­ing the cru­cial fes­tive trad­ing pe­riod, book­ing a 32 per cent rise in rev­enues for the seven weeks to Jan­uary 6.

The AIM-listed firm saw in­ter­na­tional sales lift 51 per cent com­pared to last year, driven by hefty rev­enue growth from its Ir­ish stores and the roll-out of three new shops in Spain. UK sales were 12 per cent higher, while on­line rev­enues soared by 119 per cent. Quiz chief ex­ec­u­tive Tarak Ramzan said: “This growth re­flects the strength of our brand and the ap­peal of our prod­ucts to cus­tomers who want the lat­est looks at fan­tas­tic value. “We are con­tin­u­ing to ex­e­cute our growth plans in each area of the busi­ness, un­der­pinned by con­tin­ued in­vest­ment in our mar­ket­ing, peo­ple and in­fra­struc­ture.”

Shares were up close to 1 per cent fol­low­ing the trad­ing up­date.

The per­for­mance comes at a time of chal­leng­ing trad­ing con­di­tions for cloth­ing re­tail­ers as they bat­tle tighter house­hold bud­gets and on­line com­pe­ti­tion.

Ear­lier this month, Deben­hams posted a profit warn­ing as it strug­gled with sales while Next re­ported bet­ter than ex­pected fig­ures fol­low­ing a boost in on­line sales.

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