Ted Baker PLC Trading Update (6641L)

TIDMTED

RNS Number : 6641L

Ted Baker PLC

13 January 2016

Ted Baker Plc

("Ted Baker" or the "Group")

Trading Update

For the 8 week period from 15 November 2015 to 9 January 2016

"Good retail performance over the Christmas period"

Ted Baker, the global lifestyle brand, is pleased to announce a 10.1% (10.6% constant currency) increase in retail sales for the 8 week period from 15 November 2015 to 9 January 2016 (the "period"), compared to the equivalent dates last year. Average retail square footage rose by 7.5% over the period to 355,907 sq.ft. (2015: 331,208 sq.ft.)

Gross margins were in line with expectations and there was no significant promotional activity before Christmas. We expect to end the year with a clean stock position.

Expansion continued during the period with additional concessions in the UK, France and Spain and a new store opening in California. Licence partner openings included a new outlet in each of Melbourne and Sydney, a new store in Saudi Arabia and a new concession in Mexico.

Our e-commerce business performed well, with sales increasing 39.1% reflecting a good performance across all of the Group's websites.

We continue to invest for the long-term development of the Ted Baker brand and this result reflects a good performance generally across our markets.

We intend to announce our Annual Results for the 52 weeks ending 30 January 2016 on 17 March 2016 and the Board anticipates that results will be in line with its expectations.

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

"The Ted Baker brand has performed well over the Christmas period against a tough trading backdrop. We continue to invest across international markets for the further development of Ted Baker as a global lifestyle brand.

Commitment to quality, design and attention to detail underpins everything we do, as well as the talent, passion and Tedication of our team. On behalf of the Board I would like to thank everyone across the world for their continued hard work."

 
 Ted Baker                             Tel: +44 (0) 
                                       20 7255 4800 
 Ray Kelvin CBE, Founder & Chief 
  Executive 
 Lindsay Page, Chief Operating 
  Officer & Group Finance Director 
 Charles Anderson, Finance Director 
  & 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. 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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January 13, 2016 02:00 ET (07:00 GMT)

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