Ted Baker PLC Interim Management Statement (9865S)

TIDMTED

RNS Number : 9865S

Ted Baker PLC

14 November 2013

Ted Baker PLC

("Ted Baker")

Interim Management Statement

For the 13 week period from 11(th) August 2013 to 9(th) November 2013

Strong performance and continued development of the Ted Baker brand across all channels

Ted Baker, the British lifestyle brand, is pleased to announce a 24.4% increase in Group revenue to GBP77.1m (2012: GBP62.0m) for the 13 week period from 11th August 2013 to 9th November 2013 (the "period"), compared to the same period last year.

Retail sales for the period increased 19.8% to GBP58.1m (2012: GBP48.5m) and average retail square footage rose by 11.4% to 300,766sq.ft (2012: 269,942sq.ft.). Performance in our established territories has been strong and we remain encouraged by the development of the Ted Baker brand in our newer markets at this early stage. Our international expansion continued with further concession openings in leading department stores in the US, the Netherlands, France, Spain, Germany and our first concessions in China. Our e-commerce business performed well and we successfully launched a new UK e-commerce platform at the end of the period, which will also provide local content to our European customers and increase our multi-channel capabilities.

Wholesale sales for the period increased 40.8% to GBP19.0m (2012: GBP13.5m). Whilst this performance continues to be positively impacted by the earlier phasing of sales, the period also benefited from an improved performance in the UK, with the US wholesale business continuing to perform well. We expect Group wholesale sales for the full year to be some 25% ahead of last year.

We continue to invest in people and infrastructure to support the long term development of the Ted Baker brand globally. Operating expenses continue to reflect this and gross margins were, as anticipated, in line with last year. We expect gross margins for the second half as a whole to be broadly in line with this trend.

Our product and territorial licenses continue to perform well, with further openings in the period, including stores in Abu Dhabi, Singapore and our first store in Turkey.

The Ted Baker brand continues to perform well across all channels and in line with the Board's expectations. However, as ever, the outcome for the full year will be dependent on trading during the key Christmas period.

Ted Baker intends to make its next trading statement covering the period from 10th November 2013 to 4th January 2014 in mid-January.

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

"The Group has delivered a continued strong performance across all channels, reflecting the strength of the Ted Baker brand, our collections and, above all, the dedication of our team.

The reaction to our Autumn/Winter collections across all our international markets has been very encouraging and we have further store openings planned for the coming months in Hong Kong and Gatwick South and three stores through our licence partners, two in the Middle East and one in Turkey.

We are pleased with our continued strong performance to date however, as ever, the Group's full year results will be dependent on trading over the key Christmas period."

Enquiries and further information:

 
 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/ Michael Sandler

www.tedbaker.com

www.tedbakerplc.com

Media images available for download at:

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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