Superdry and Ted Baker report increases in festive sales

Shares in Ted Baker have raced higher after the fashion chain joined Superdry in unwrapping strong festive sales.

Ted Baker rose 9.45 per cent in afternoon trading on the London Stock Exchange after retail sales jumped 9 per cent in the eight weeks to January 6th compared to the year before.

Online sales proved a bright spot, jumping 35 per cent and counting for nearly a third of total sales. However, founder and chief executive Ray Kelvin said he expected the difficult trading environment to persist in the coming year.

Superdry also enjoyed a healthy Christmas performance, with like-for-like retail sales climbing 4.7 per cent for the 10 weeks to January 6th.

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The fashion firm booked a 13 per cent rise in group revenue to £215.6 million (€243.5 million) during the period, as online and wholesale revenues expanded by 31 per cent and 20 per cent respectively.

But the update came as Supergroup unveiled a 28 per cent fall in half-year pre-tax profits to £9.1 million (€10.2 million).

– PA