Ted Baker PLC Interim Management Statement (8990W)

TIDMTED

RNS Number : 8990W

Ted Baker PLC

13 November 2014

Ted Baker Plc

("Ted Baker" or the "Group")

Interim Management Statement

For the 13 week period from 10(th) August 2014 to 8(th) November 2014

"Further progress across our global markets and distribution channels"

Ted Baker, the British lifestyle brand, is pleased to announce a 15.7% increase in Group revenue for the 13 week period from 10(th) August 2014 to 8(th) November 2014 (the "period"), compared to the same period last year.

Retail sales for the period increased by 12.7% (14.7% in constant currency) and average retail square footage rose by 9.5% to 329,321 sq.ft (2013: 300,766 sq.ft). We have been pleased with the performance in our established territories, and we continue to invest in newer markets for the long-term development of the Ted Baker brand. Our international expansion continued with successful store openings in Las Vegas and Toronto, and further concession openings in premium department stores in the US, the Netherlands, France, Spain, Portugal and South Korea. Our e-commerce business performed very well with sales increasing 34.6%, reflecting continuing growth in the UK and the successful migration of our US site to the new platform in July.

Wholesale sales for the period increased 24.7% (25.4% in constant currency). Both the UK and US saw growth driven by strong underlying performance, with the US wholesale business trading particularly well as the brand continues to gain traction. Growth in the UK wholesale business was also driven by the continued success of our international licence partners, particularly in the Middle East. We anticipate Group wholesale sales for the full year to be around 20% ahead of last year on a reported basis.

Our product and territorial licensees continue to perform well, with successful licensed store openings in the period, including another store in Turkey and the brand's launch into Latin America with the first store in Panama.

We expect gross margins for the second half as a whole to be slightly below last year, largely due to a change in the mix of sales as seen in the first half.

Our investment in people and infrastructure continues to support the long term global development of the Ted Baker brand and our implementation of Microsoft Dynamics AX continues on course to commence roll out early next year.

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

Ted Baker intends to make its next trading statement covering the period from 9(th) November 2014 to 3(rd) January 2015 in mid-January 2015.

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

"Ted Baker has continued to deliver a strong performance as we have made further progress across our global markets and distribution channels. Ted Baker is a global brand with strong international reach and this has helped mitigate the impact of any localised economic or weather issues. Further underlying growth and brand momentum has been delivered thanks to the quality of our product and the passion and dedication of our skilled team.

The reaction to our Autumn/Winter collections across our international markets has been very encouraging and we have further store openings planned for the coming months in Miami and Heathrow Terminal 4, and a further outlet store in China.

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

Enquiries and further information:

 
 Ted Baker                                   Tel: 020 7255 4800 
 Ray Kelvin CBE, Founder & Chief Executive 
  Lindsay Page, Chief Operating Officer 
  & Group Finance Director 
  Charles Anderson, Company Secretary 
 Hudson Sandler                              Tel: 020 7796 4133 
 Alex Brennan

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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