Interim Management Statement (1416F)
June 12 2012 - 2:00AM
UK Regulatory
TIDMTED
RNS Number : 1416F
Ted Baker PLC
12 June 2012
12(th) June 2012
Ted Baker PLC
("Ted Baker")
Interim Management Statement
For the 19 week period from 29(th) January 2012 to 9(th) June
2012
'Good performance in line with the Board's expectations'
Ted Baker, the British designer brand is pleased to announce a
14.6% increase in Group revenue for the 19 week period from 29(th)
January 2012 to 9(th) June 2012 (the "period"), compared to the
same period last year.
Retail sales for the period were 16.2% above the same period
last year, while average retail square footage rose by 12.0% to
259,936 sq.ft. (2011: 232,157 sq.ft.). We are pleased with
performance across all territories despite a backdrop of
challenging trading conditions.
During the period we opened additional concessions in the US,
Spain and Ireland and we have recently opened a new store on the
Brompton Road, London. We also continued to expand into new
international markets, opening our first store in Tokyo, Japan, and
new concessions with leading department stores in the Netherlands
and South Korea.
Wholesale sales for the period were 8.9% above the same period
last year, primarily driven by the continued growth of our US
wholesale business. We expect full year growth to be at a similar
level.
Gross margins were, as anticipated, in line with last year.
Our product and territorial licences continue to perform in line
with expectations and new licensed store openings are planned in
Indonesia and Malaysia later this year.
Whilst we have been pleased with the Group's performance to
date, which is in line with the Board's expectations, we remain
mindful of the uncertain economic environment in which we
operate.
We intend to announce our interim results for the 28 weeks
ending 11(th) August 2012 on 4(th) October 2012.
Commenting on trading, Ray Kelvin CBE, Founder and Chief
Executive said:
"The Group has made a good start to 2012, despite continued
uncertainty in the trading environment. This is a testament to the
strength of our brand, our collections and above all, the
commitment of our team.
We continue to develop the Ted Baker brand in the UK and
overseas. We opened a new store on the Brompton Road, London last
week, and have exciting international store openings planned for
the coming months, including Fifth Avenue, New York, Harbour City,
Hong Kong and our first stores in Toronto, Canada, along with
Beijing and Shanghai, China.
Ted Baker remains committed to design, quality and attention to
detail as we continue to carefully expand the brand."
Enquiries:
Ted Baker Tel: 020 7255 4800
Ray Kelvin CBE, Founder and Chief
Executive
Lindsay Page, Finance Director
Hudson Sandler Tel: 020 7796 4133
Michael Sandler / Alex Brennan
www.tedbaker.com
www.tedbakerplc.com
Media images available for download at:
http://www.tedbakerplc.com/ted/en/mediacentre/imagelibrary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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