Ted Baker PLC Trading Update (8769H)
June 13 2017 - 2:01AM
UK Regulatory
TIDMTED
RNS Number : 8769H
Ted Baker PLC
13 June 2017
13 June 2017
Ted Baker Plc
("Ted Baker" or the "Group")
Trading Update
For the 19 week period from 29 January 2017 to 10 June 2017
"Positioned for further progress and to meet full year
expectations"
Ted Baker, the global lifestyle brand, is pleased to announce a
14.2% increase in Group revenue for the 19 week period from 29
January 2017 to 10 June 2017 (the "period"), compared to the same
period last year.
Total retail sales for the period increased by 14.3% (8.4% in
constant currency), despite external factors continuing to impact
trading conditions across some of our global markets. Our
e-commerce business has continued to perform well with sales
increasing 35.9% (32.3% in constant currency) reflecting continued
growth across our e-commerce sites as well as the strength of our
retail proposition. Average retail square footage rose by 4.9% to
398,000 sq.ft (2016: 379,254 sq.ft).
The global expansion of the brand continued with successful
openings in Los Angeles, Paris, and Shanghai, our first Dutch
outlet in Roermond and further concession openings in premium
department stores in France, Germany, Japan, South Korea, the
Netherlands and the UK. We also successfully relocated our Miami
Aventura and Tokyo stores.
Wholesale sales for the period increased 13.8% (8.9% in constant
currency) reflecting good performances from both our UK and North
American businesses. We continue to anticipate achieving high
single digit growth (in constant currency) in the wholesale
business for the full year.
Both retail and wholesale gross margins were in line with our
expectations.
Our product and territorial licensees continue to perform well,
reflecting the global strength and appeal of the brand with
licensed store openings in Dubai, Kuwait and Mexico.
The Group is positioned to meet the Board's expectations for the
full year despite the current uncertain macro environment. We
intend to announce our interim results for the 28 weeks ending 12
August 2017 in early October 2017.
Commenting on trading, Ray Kelvin CBE, Founder and Chief
Executive said:
"This continued good performance across all of our distribution
channels is a reflection of the strength and appeal of Ted Baker as
a global lifestyle brand. The continued expansion of the brand
remains underpinned by an unwavering focus on quality and attention
to detail as well as the passion, skill and Tedication of our
team.
We are very pleased with the customer response during the period
and, despite an uncertain macro environment, we remain positioned
to deliver further progress and our expectations for the full
year."
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of the Company is Charles Anderson, Finance Director &
Company Secretary.
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
Hattie O'Reilly
Fern Duncan
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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June 13, 2017 02:01 ET (06:01 GMT)
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