Ted Baker PLC Interim Management Statement (2237G)

TIDMTED

RNS Number : 2237G

Ted Baker PLC

19 November 2015

Ted Baker Plc

("Ted Baker" or the "Group")

Interim Management Statement

For the 13 week period from 16 August 2015 to 14 November 2015

"Continued development of the brand across all channels"

Ted Baker, the global lifestyle brand, is pleased to announce a 20.5% increase in Group revenue for the 13 week period from 16 August 2015 to 14 November 2015 (the "period"), compared to the same period last year.

Retail sales for the period increased by 18.1% (18.1% in constant currency) and average retail square footage rose by 7.0% to 352,382 sq.ft (2014: 329,329 sq.ft). These results benefited from our customer event at the end of the period, which fell a week later last year.

This good performance was achieved despite a more challenging trading environment in some of our international markets as indicated at the time of the Group's Interim Results in October. Our international expansion continued with successful openings in Stansted Airport, Amsterdam, Hawaii, Malibu and Toronto, and further concession openings in premium department stores in Germany, Ireland, Spain, North America and South Korea. Our e-commerce business, which also benefited from our customer event, delivered another strong performance with sales increasing 74.3%.

Wholesale sales for the period increased 27.0% (25.1% in constant currency) reflecting strong performances from both our UK and North American businesses. We anticipate Group wholesale sales for the full year to be approximately 28% ahead of last year on a reported basis.

Both retail and wholesale gross margins were in line with our expectations.

Our product and territorial licensees continue to perform well with licensed store openings in Singapore and Taiwan and licensed concession openings in Kuwait and Mexico.

The brand continues to perform very well 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.

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

"Ted Baker has continued to perform very well with further development of the brand internationally and across distribution channels. Underpinned by the skill and dedication of our team across the world, our unwavering focus on product quality and design, and our continued investment across the business, we remain fully focused on the long-term growth of Ted Baker as a global lifestyle brand. The reaction to our Autumn / Winter collections has been very encouraging, however, the Group's full year results will be dependent on trading conditions over the important Christmas period."

Ted Baker intends to make its next trading statement covering the period from 15 November 2015 to 2 January 2016 in mid-January 2016.

 
 Ted Baker                              Tel: +44 (0) 
                                        20 7255 4800 
 Ray Kelvin CBE, Founder & Chief 
  Executive 
 Lindsay Page, Chief Operating 
  Officer & Group Finance Director 
 Charles Anderson, Company Secretary 
 
 Hudson Sandler                         Tel: +44 (0) 
                                        20 7796 4133 
 Alex Brennan / Michael Sandler 
  / Jessica Reid

Enquiries and further information:

www.tedbaker.com

www.tedbakerplc.com

Media images available for download at:

www.tedbakerplc.com/ted/en/mediacentre/imagelibrary

Cautionary statement regarding forward-looking statements

This announcement contains certain forward-looking statements. These forward-looking statements include matters that are not historical facts or are statements regarding the Group's intentions, beliefs or current expectations concerning, among other things, the Group's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Group operates.

Forward-looking statements are based on the information available to the Directors at the time of preparation of this announcement, and will not be updated during the year. The Directors can give no assurance that these expectations will prove to have been correct. Due to inherent uncertainties, including both economic and business risk factors underlying such forward looking information, actual results may differ materially from those expressed or implied by these forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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November 19, 2015 02:00 ET (07:00 GMT)

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