Ted Baker PLC Interim Management Statement (4394H)

TIDMTED

RNS Number : 4394H

Ted Baker PLC

20 June 2013

Ted Baker PLC

("Ted Baker")

Interim Management Statement

For the 20 week period from 27(th) January 2013 to 15(th) June 2013

"Strong revenue growth accompanied by continuing investment in people and infrastructure to support long term development of the brand"

Ted Baker, the British designer brand is very pleased to announce a 32.7% increase in Group revenue for the 20 week period from 27(th) January 2013 to 15(th) June 2013 (the "period"), compared to the same period last year.

Retail sales for the period were 30.7% above the same period last year, while average retail square footage rose by 13.4% to 295,769 sq.ft. (2012: 260,821 sq.ft.). We are delighted with this performance which is reflected across all the territories in which we operate. Our e-commerce business has also continued to perform very well.

In the UK, we opened an accessories store in Gatwick North in the period and our store at Stansted Airport closed to accommodate the redevelopment of the Terminal. As part of the ongoing management of our UK store portfolio, we also closed our store on the Kings Road London with the lease expiring at the end of the period.

Internationally, we opened our first concession in France during the period along with further concessions in Spain and the Netherlands. We also continued with our expansion into Asia opening a store and an outlet in Shanghai, and a concession through a leading department store in Tokyo.

Wholesale sales for the period were 41% above the same period last year, reflecting a good performance in all our markets. The level of growth for this period was positively impacted by the phasing of sales and we would anticipate full year growth to be slightly ahead of our initial expectations for the year of single digit growth.

Gross margins were, as anticipated, in line with last year.

Our product and territorial licences continue to perform well with new licensed store openings in Adelaide, Beirut, and Kuwait, and planned openings in Abu Dhabi and Dubai.

We continue to invest in people and infrastructure to support our growth in international markets, notably in the US and Asia, and the long term development of the brand. During last year we opened stores and concessions in six new countries and we will therefore incur disproportionate administration and compliance costs as we establish our businesses in these markets.

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

"The Group has delivered a very good result across all territories over the start of 2013. We are continuing to invest in developing the Ted Baker brand internationally and have been encouraged by the reaction to the brand and the collections in our new markets. Whilst as ever the outcome for the full year will be dependent on the second half, we remain very confident of our prospects.

We are committed to the quality, design and attention to detail of our product and our performance demonstrates the true passion, commitment and strength of our team."

We intend to announce our interim results for the 28 weeks ending 10(th) August 2013 on 3(rd) October 2013.

Enquiries:

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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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