Ted Baker boosted by festive sales performance

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Fashion retailer Ted Baker has reported better-than-expected trading for the festive period after sales jumped by more than a fifth.

The firm, which counts an outlet in Belfast’s Victoria Square among more than 380 stores and concessions worldwide, said total revenues leapt 22.8 per cent in the eight weeks to January 3 compared to a year ago.

The business said it was able to make these sales without resorting to the “significant promotional activity” that was a feature of the high street in the run up to Christmas.

Shares in the group, which sells men’s suits and womenswear, lifted more than three per cent.

The results are in contrast to high street giant Marks & Spencer, which reported like-for-like sales at its general merchandise division down by a bigger-than-expected 5.8 per cent over Christmas.

It also set a benchmark for other fashion firms such as Burberry and ASOS ahead of their festive trading updates next week.

“Performance across our established territories has remained strong and we continue to invest in our newer markets for the long-term opportunities of the Ted Baker brand,” a statement from the company said.