Ted Baker looks dapper as shoppers banish election blues

“Fed-up” shoppers found an antidote to the uncertainty caused by the general election in retail therapy, the boss of Ted Baker said on Tuesday.

Ray Kelvin acknowledged that external factors, including recent terror attacks and the pound’s fall, had made for a tough retail environment, but suggested the turmoil in Westminster may actually have boosted the brand.

“I think it’s helped us. People are fed up and want a bit of fun, to go shopping, to buy something nice and new because they can’t be bothered with it.”

The retailer, which launched a golf range this year, reported an 8.4% rise in retail sales, stripping out currency fluctuations, in the past 19 weeks. Online sales were 32% higher and wholesale revenue increased by almost 9%.

It expects to meet full-year expectations. Analysts have pencilled in full-year pretax profit of £72.1 million, on sales of just over £591 milion for the year ended in January.

Broker Exane described the 19-week performance as a “solid start”. Shares rose 61p to 2486p.