Ted Baker PLC Interim Management Statement (2070J)

TIDMTED

RNS Number : 2070J

Ted Baker PLC

10 June 2014

Ted Baker PLC

("Ted Baker")

Interim Management Statement

For the 19 week period from 26 January 2014 to 7 June 2014

"Strong performance across established markets, newer markets progressing well"

Ted Baker, the British lifestyle brand, is pleased to announce a 17.9% increase in Group revenue for the 19 week period from 26 January 2014 to 7 June 2014 (the "period"), compared to the same period last year.

Retail sales for the period were 15.8% above the same period last year, while average retail square footage rose by 9.5% to 323,872 sq.ft. (2013: 295,670 sq.ft.), reflecting a strong performance across our established markets with our newer markets continuing to progress well. Our e-commerce business, benefitting from our new platform, continued to perform very well, with sales increasing 48.1%.

During the period, we opened two new stores in Glasgow and Heathrow Terminal 2. We continued our expansion in the US with a new store in Philadelphia, two new concessions through a leading department store and a further outlet in California. We also opened further concessions in Spain, France and the Netherlands and an outlet in Paris. In Asia, we opened two concessions with a leading department store in Tokyo.

Wholesale sales for the period were 25.2% above the same period last year, reflecting a good performance from our UK and export business and a strong performance from our US wholesale business, where the Ted Baker brand continues to gain traction. Notwithstanding this strong performance, we anticipate low double digit growth for the full year.

Gross margins were in line with our expectations, and broadly in line with last year.

Our product and territorial licences continue to perform well with new licensed store openings in Dubai, Cairo and Saudi Arabia. We also opened a new store in Brisbane with our Australasian joint venture partner.

We continue to invest in our people and infrastructure to support the long term development of the Ted Baker brand globally. We are pleased with the progress of our implementation of Microsoft Dynamics AX business systems across the Group, which remains on track.

We intend to announce our interim results for the 28 weeks ending 9 August 2014 on 2 October 2014.

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

"The Ted Baker brand has continued to perform very well and we have delivered further progress across our global markets and distribution channels.

We are pleased with the performance of our Spring/Summer collections both in the UK and internationally, which is testament to our skilled and passionate team. Commitment to quality, design and attention to detail underpins everything we do and we remain focussed on our strategy to further develop Ted Baker as a global lifestyle 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 
 Alex Brennan/Julia Cooke

This information is provided by RNS

The company news service from the London Stock Exchange

END

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