TIDMTED
RNS Number : 0370R
Ted Baker PLC
12 June 2018
12 June 2018
Ted Baker Plc
("Ted Baker" or the "Group")
Trading Update
For the 19 week period from 28 January 2018 to 9 June 2018
"Focussed on delivering full year expectations, despite
challenging external trading conditions"
Ted Baker, the global lifestyle brand, announces a 4.2% (7.5% in
constant currency) increase in Group revenue for the 19 week period
from 28 January 2018 to 9 June 2018 (the "period"), compared to the
same period last year. This performance was achieved despite the
impact of unseasonal weather across Europe and the East Coast of
America in the early part of the period and, as previously
reported, external trading conditions remaining challenging across
many of our global markets.
Total retail sales including e-commerce increased by 0.7% for
the period (3.6% in constant currency) and average retail square
footage rose by 5.7% to 420,799 sq.ft (2017: 398,000 sq.ft).
E-commerce, which is an integral and increasingly important
component within our retail channel, performed very well with sales
increasing by 33.6% (36.2% in constant currency). Our flexible
business model, including a relatively low number of own stores,
enables us to respond to structural changes in the retail
sector.
Wholesale sales for the period increased by 14.2% (18.9% in
constant currency) reflecting both a good performance from our UK
and North American businesses and the earlier timing of wholesale
deliveries. We continue to anticipate achieving at least 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 continued to perform well,
reflecting the global strength and appeal of the brand. We are
pleased with the performance of our product licences with notable
performances from Childrenswear, Eyewear, Lingerie and Suiting.
Underpinned by the strength and the appeal of the Ted Baker
brand and our balanced business model, the Group remains focussed
on delivering the Board's expectations for the full year. We intend
to announce our interim results for the 28 weeks ending 11 August
2018 in early October 2018.
Commenting on trading, Ray Kelvin CBE, Founder and Chief
Executive said:
"We are pleased with the customer responses to our collections
as well as the brand's continued expansion across each of its
distribution channels.
We have made significant investment in our flexible business
model to ensure that the Ted customer has multiple channels to
engage with the brand. Our global e-commerce business continues to
grow very strongly and is complemented by our unique stores and
digital and social selling strategy, which showcase the brand to
our customers.
The Group's continued progress and growth is a reflection of the
design and quality of our collections as well as the sustained
appeal of the Ted Baker brand. These strengths, along with our
business model and the passion, skill and commitment of our team
mean that, despite an uncertain consumer outlook, we are well
positioned to continue Ted Baker's long-term development."
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.
Enquiries:
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
Nick Moore
Further information:
www.tedbaker.com / www.tedbakerplc.com
Media images available for download at:
www.tedbakerplc.com/ted/en/mediacentre/imagelibrary
LEI: 549300HN14450OU4IL77
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.
About 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, Africa, 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 omnichannel view for its
growing and highly engaged global audience.
The brand offers a wide range of collections including:
Menswear; Womenswear; Global; Phormal; Endurance; Accessories;
Bedding; Childrenswear; Crockery; Eyewear; Footwear; Fragrance and
Skinwear; Gifting and Stationery; Jewellery; Lingerie and
Sleepwear; Luggage; Neckwear; Rugs; Suiting; Technical Accessories;
Tiles; and Watches.
Ted Baker is a truly global lifestyle brand with 542 stores and
concessions worldwide, comprised of 201 in the UK, 112 in Europe,
129 in North America, 91 in the Middle East, Africa and Asia and 9
in Australasia.
The global expansion of the Ted Baker brand continued during the
period from 28 January 2018 to 9 June 2018 with successful openings
in Austin Texas, London Bridge, London Luton Airport, our first
German outlet in Neumunster and further concession openings in
premium department stores in France, the UK and Spain. Our
territorial licence partners opened stores in India, Kazakhstan,
Malaysia, Mexico, Ukraine, Singapore, South Korea and Taiwan.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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