Ted Baker PLC Trading Update (0699B)

TIDMTED

RNS Number : 0699B

Ted Baker PLC

14 June 2016

Ted Baker Plc

("Ted Baker" or the "Group")

Trading Update

For the 19 week period from 31 January 2016 to 11 June 2016

The Group remains on track to meet the Board's expectations for the Full Year

Ted Baker, the global lifestyle brand, is pleased to announce an 11.3% increase in Group revenue for the 19 week period from 31 January 2016 to 11 June 2016 (the "period"), compared to the same period last year.

Retail sales for the period increased by 12.7% (10.3% in constant currency) and average retail square footage rose by 9.7% to 379,254 sq.ft. (2015: 345,839 sq.ft.). This good performance was achieved in the context of challenging external trading conditions, and is a reflection of the strength of the brand and the Group's business model. Our international expansion has continued with successful store openings in Beijing, Ottawa and Seattle, and further concession openings in premium department stores in China, France, Germany, Japan and Spain.

Our e-commerce business has continued to perform well with sales increasing 32.3%, reflecting continued growth across our e-commerce sites. During the period, we launched our first language specific website in Germany and have been very pleased with its performance at this early stage.

Wholesale sales for the period increased by 7.3% (5.6% in constant currency). Our North American wholesale business enjoyed a strong start to the season and continues to perform well. The performance of the UK wholesale business was impacted by the timing of some deliveries, as previously indicated, but we continue to anticipate achieving low double digit growth in the wholesale business for the full year.

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

Our product and territorial licences continue to perform well with new licensed store openings in Azerbaijan, Egypt, Mexico and Taiwan.

We continue to invest in our people and infrastructure to support the long term development of the Ted Baker brand globally. The on-going implementation of Microsoft Dynamics AX business systems across the Group has continued in line with our plans and the development of our new state-of-the-art European Distribution Centre is progressing well.

The Group remains on track to meet the Board's expectations for the full year and we intend to announce our interim results for the 28 weeks ending 13 August 2016 on 11 October 2016.

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

"These results demonstrate the strengths of the brand. Underpinned by our unwavering focus and passion across all of our products and distribution channels, the talent and dedication of our global teams continue to execute our multi-channel growth strategy. We are very pleased with the response from our customers over this period and remain well positioned to deliver our expectations for the full year."

Enquiries:

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

Notes to editors:

Ted Baker Plc - "No Ordinary Designer Label"

Ted Baker is a global lifestyle brand that operates through three main distribution channels: retail, which includes e-commerce; wholesale; and licensing, which includes territorial and product licences.

We distribute through our own and licensed retail outlets, leading department stores and selected independent stores in the UK and Europe, North America, the Middle East, Asia and Australasia.

The brand continues to go from strength to strength driven along in part by its unconventional approach to product and design. Never forgetting its roots as a shirt specialist but always with an eye on the future Ted is continuously innovating through its collections, store environments and now with digital and social media initiatives that foster a truly omni-channel view for its growing and highly engaged global audience.

Ted Baker has 465 stores and concessions worldwide, comprising of 185 in the UK, 97 in Europe, 104 in the US and Canada, 70 in the Middle East and Asia and 9 in Australasia.

The brand offers a wide range of collections including: Menswear; Womenswear; Global; Phormal; Endurance; Accessories; Audio; Bedding; Childrenswear; Crockery; Eyewear; Footwear; Fragrance and Skinwear; Gifting and Stationery; Jewellery; Lingerie and Sleepwear; Luggage; Neckwear; Rugs; Suiting; Technical Accessories; Tiles; and Watches.

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

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June 14, 2016 02:01 ET (06:01 GMT)

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