Ted Baker PLC Trading Update (4187B)
January 10 2018 - 2:00AM
UK Regulatory
TIDMTED
RNS Number : 4187B
Ted Baker PLC
10 January 2018
10 January 2018
Ted Baker Plc
("Ted Baker" or the "Group")
Trading Update
For the 8 week period from 12 November 2017 to 6 January
2018
"Good retail performance over the Christmas period"
Ted Baker, the global lifestyle brand, announces that retail
sales increased by 9.0% (10.5% in constant currency) for the 8 week
period from 12 November 2017 to 6 January 2018 (the "period"),
compared to the same period last year. E-commerce sales increased
by 35.0% (36.4% in constant currency) and represented 30.1% of
total retail sales. Average retail square footage rose by 5.9% to
409,226 sq.ft (2016: 386,252 sq.ft) and the Group's expansion
continued with the opening of a new store in Montreal, further
concession openings in Germany and Spain and with our licence
partners, an additional store in each of Malaysia, Mexico and
Qatar.
Gross margins were in line with our expectations and we expect
to end the year with a clean stock position.
We intend to announce our Annual Results for the 52 weeks ending
27 January 2018 on 22 March 2018 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 continued to perform in line with
expectations over the Christmas period, delivering a good retail
performance driven by particularly strong growth from e-commerce,
which is an increasingly important part of our retail business.
This pleasing result reflects the strength of the brand and the
quality of our collections as well as the hard work, skill and
commitment of our teams.
Whilst external trading conditions are expected to remain
challenging in the year ahead, the strength of our brand and
business model means that we remain well positioned to continue the
long-term development of Ted Baker as a global lifestyle
brand."
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of the Group 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 / 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. 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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