Interim Management Statement
November 15 2007 - 2:02AM
UK Regulatory
RNS Number:7673H
Ted Baker PLC
15 November 2007
15 November 2007
TED BAKER PLC
("TED BAKER")
INTERIM MANAGEMENT STATEMENT
FOR THE 13 WEEK PERIOD FROM 12 AUGUST TO 10 NOVEMBER 2007
Ted Baker, the British designer Brand is pleased to announce a 14.3% increase in
Group revenue for the 13 week period from 12 August to 10 November 2007 (the "
period"), compared to the same period last year, with gross margins in line with
management expectations.
Retail sales for the period were 13.4% above the same period last year. Average
retail square footage rose by 6.5% over the period to 153,901 sq.ft. (2006:
144,565 sq.ft.). During the period we opened a store in Dublin and its
performance to date has been excellent. We also opened our first store in
Melbourne, Australia through a joint venture with our licence partner in the
territory and the initial reaction has been positive.
Wholesale sales for the period were 16.3% above the same period last year. As
anticipated at the time of our interim results, this should result in full year
wholesale sales being only slightly below last year, reflecting the difficult
conditions experienced by some of our wholesale customers and our continued
monitoring of the profile of our wholesale customers, to ensure they remain
appropriate for our brand.
Our product and territorial licences continue to trade in line with expectations
and we are pleased to announce the recent launch of two Ted Baker branded mobile
phones in conjunction with The Carphone Warehouse Group ("CWG"), which are
available exclusively through CWG's store network in the UK and Europe and
through CWG's websites. Our retail licencees in the Middle East and Asia have
also opened three further stores in Hong Kong and Malaysia (2) and three
concessions in Taiwan (2) and Thailand.
Commenting on trading, Ray Kelvin, Founder and Chief Executive, said:
"We are pleased to report that we have received a very positive response from
our customers to our Autumn / Winter collections and trading across the Group
has been in line with our expectations. We plan to open new stores in Brighton
(UK) and Aventura Mall, Florida (US) in November and a further licensed store
will open in Jakarta at the start of December. While the results for the full
year will, as always, be dependent on trading in the Christmas period, the Board
remains confident of another successful outcome for the year."
Enquiries:
Ted Baker Tel: 020 7255 4800
Lindsay Page, Finance Director
Hudson Sandler Tel: 020 7796 4133
Michael Sandler / Kate Hough
This information is also available on Ted Baker's Investor Relations site at
www.tedbaker.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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