Interim Management Statement (3665I)

TIDMTED

RNS Number : 3665I

Ted Baker PLC

14 June 2011

Ted Baker PLC

("Ted Baker")

Interim Management Statement

For the 19 week period from 30(th) January 2011 to 11(th) June 2011

Ted Baker, the British designer brand is pleased to announce a 15.2% increase in Group revenue for the 19 week period from 30(th) January 2011 to 11(th) June 2011 (the "period"), compared to the same period last year.

Retail sales for the period were 9.4% above the same period last year and average retail square footage rose by 4.4% over the period to 232,157 sq.ft. (2010: 222,339 sq.ft.). We have been pleased by our performance across all markets, despite the subdued start to retail trading at the beginning of the financial year. During the period we opened stores in Manchester, Paris and Hong Kong and concessions through leading department stores in the US, Spain and Portugal and have been encouraged by their performance at this early stage.

Wholesale sales for the period were 42.1% above the same period last year. Whilst this increase was predominantly a result of the phasing of sales, it also reflects the continuing growth of our US wholesale business and a good performance from our UK business. We anticipate wholesale sales for the full year being some 10.0% ahead of last year.

Underlying input margins have been maintained, which has resulted in the wholesale gross margin being in line with last year. Whilst this is also reflected in the retail gross margin, the achieved retail gross margin is slightly below last year due to the mix of product sales and a higher level of promotional activity in our markets.

Overall, our product and territorial licences continue to perform in line with our expectations and it was pleasing to see particularly good performances from our licensed stores in the Middle East and Asia over the period.

We have been pleased with the Group's performance to date which is in line with the Boards' expectations and reflects our investment in the Ted Baker brand, both in the UK and internationally. Whilst the macroeconomic environment remains uncertain, we believe Ted Baker is well placed to deal with the challenges ahead and will continue to develop and expand in existing and new international markets.

Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said:

"The Group has made a good start to 2011. Our collections have been well received across our international markets as we continue to expand the brand into new territories.

Looking forward into the second half of the year we plan to open new stores in the UK, New Zealand, China and America, whilst maintaining our focus on design, quality and attention to detail which underpin the core strengths of the Ted Baker brand."

We intend to announce our interim results for the 28 weeks ended 13(th) August 2011 on 6(th) October 2011.

Enquiries:

 
 Ted Baker                                 Tel: 020 7255 4800 
 Ray Kelvin, Founder and Chief Executive 
  Lindsay Page, Finance Director 
 Hudson Sandler                            Tel: 020 7796 4133 
 Michael Sandler / Kate Hough / Alex 
  Brennan

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END

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