Festive sales sparkle for retailers Ted Baker, Superdry and Quiz
Shares in Ted Baker have raced higher after the fashion chain joined Superdry and Quiz in unwrapping strong festive sales.
Ted Baker rose 7% in morning trading on the London Stock Exchange after retail sales jumped 9% in the eight weeks to January 6 compared to the year before.
Online sales proved a bright spot for the retailer, jumping 35% over the period 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.
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."
The owner of Superdry also enjoyed a healthy Christmas performance, with like-for-like retail sales climbing 4.7% for the 10 weeks to January 6.
The fashion firm booked a 13% rise in group revenue to £215.6 million during the period, as online and wholesale revenues expanded by 31% and 20% respectively.
But the update came as Supergroup unveiled a 28% fall in half year pre-tax profits to £9.1 million, sending shares 3% lower on the second tier of the London market.
Group sales lifted by a fifth to £402 million for the six-month period, thanks to a £12 million boost from a favourable currency translation and the launch of 15 new stores worldwide.
Supergroup chief executive Euan Sutherland said: "We have delivered another strong performance demonstrating the unique advantages and attractiveness of Superdry and its relevance to customers around the globe."
Women's fast fashion brand Quiz saw sales sparkle during the crucial festive trading period, booking a 32% rise in revenues for the seven weeks to January 6.
The AIM-listed firm saw international sales lift 51% 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% higher, while online revenues soared by 119%.
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% following the trading update.
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