Ted Baker PLC Trading Update (2332X)

TIDMTED

RNS Number : 2332X

Ted Baker PLC

09 January 2014

9(th) January 2014

Ted Baker PLC

("Ted Baker")

TRADING UPDATE

For the 8 week period from 10 November 2013 to 4 January 2014

'Strong retail performance in a competitive trading environment'

Ted Baker, the British lifestyle brand, is pleased to announce an 18.3% increase in retail sales for the 8 week period from 10 November 2013 to 4 January 2014, compared to the same period last year. Average retail square footage rose by 10.9% over the period to 303,174 sq.ft. (2013: 273,340 sq.ft.). Gross margins were in line with expectations and, as in previous years, there was no significant promotional activity before Christmas. Sales since Christmas have been particularly strong and we expect to end the year with a clean stock position.

The UK and Europe continued to perform well in a competitive trading environment and the performance of our e-commerce business was strong, benefiting from the launch of our new UK e-commerce platform at the start of the period. The new platform provides local content to our European customers and increased multi-channel capabilities.

In the US and Canada we continue to make good progress as the brand gains increasing traction and recognition. In Asia we remain in the early stages of development, but continue to be encouraged by the long term opportunities for the brand in this territory.

During the period we opened a store in Gatwick South and continued our international expansion with a new store in Hong Kong and our second store in Turkey, which was opened through a licence partner.

The Board anticipates that profit before taxation for the year ending 25 January 2014 will be in line with its expectations. We intend to announce our Annual Results for the 52 weeks ending 25 January 2014 on 20 March 2014.

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

"The Group has delivered a strong result over the Christmas period in a competitive trading environment, reflecting the strength of the brand and quality and design of our product. We remain pleased by the brand's performance in our established territories and continue to invest in newer markets for the long term development of Ted Baker as a global lifestyle brand.

On behalf of the Board I would like to thank the entire team at Ted Baker for their continued hard work and dedication over this successful period."

Enquiries:

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

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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