Interim Management Statement (2514S)
November 17 2011 - 2:00AM
UK Regulatory
TIDMTED
RNS Number : 2514S
Ted Baker PLC
17 November 2011
17 November 2011
Ted Baker PLC
("Ted Baker")
Interim Management Statement
For the 13 week period from 14(th) August 2011 to 12(th)
November 2011
Good performance in line with Board's expectations reflecting
strength of brand and collections
Ted Baker, the British designer brand, is pleased to announce a
7.8% increase in Group revenue for the 13 week period from 14(th)
August 2011 to 12(th) November 2011, compared to the same period
last year.
Retail sales for the period were 12.3% above the same period
last year and average retail square footage rose by 7.2% over the
period to 237,446 sq.ft. (2010: 221,443 sq.ft.). We have been
pleased with our performance across all markets, despite the
unseasonably warm weather. We have been encouraged by the new
stores opened in the period, which have included the relocation of
our stores in the Bicester Outlet Village and the Bluewater
shopping centre to larger units. In the US we have opened a store
in San Diego, three further concessions through a leading
department store and an outlet store in Wrentham, near Boston.
As anticipated, wholesale sales for the period were 4.7% below
the same period last year due to the phasing of sales between the
first and second half of the financial year. We expect Group
wholesale sales for the full year being some 12.0% ahead of last
year.
Underlying input margins have been broadly maintained in line
with expectations. Continuing the trend seen in the first half of
2011, the retail gross margin remains slightly below last year due
to the mix of product sales.
The good results seen in our licensed stores in the Middle East
and Asia in the first half of the year have continued and overall
our product and territorial licences have performed well.
Whilst, as always, the Group's full year results will be
dependent on trading during the key Christmas period, we have been
pleased with the performance in the second half of the year to
date. This has been in line with the Board's expectations and
reflects the strength of the Ted Baker brand and collections.
Commenting on trading, Ray Kelvin CBE, Founder and Chief
Executive said:
"The Group has delivered a strong result over the period. Our
collections continue to be well received across our domestic and
international markets. We continue to expand the brand into new
territories, whilst maintaining our focus on design, quality and
attention to detail, the core strengths which underpin the Ted
Baker brand. We look forward to opening our first stores in Tokyo
and Beijing early next year and our store on Fifth Avenue, New York
towards the middle of 2012."
We intend to make our next trading statement covering the period
13(th) November 2011 to 7(th) January 2012 in mid January.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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