Ted Baker PLC Trading Update (4033P)
17 November 2016 - 6:01PM
UK Regulatory
TIDMTED
RNS Number : 4033P
Ted Baker PLC
17 November 2016
17 November 2016
Ted Baker Plc
("Ted Baker" or the "Group")
Trading Update
For the 13 week period from 14 August 2016 to 12 November
2016
"Good performance despite challenging trading conditions"
Ted Baker, the global lifestyle brand, is pleased to announce a
14.8% increase in Group revenue for the 13 week period from 14
August 2016 to 12 November 2016 (the "period"), compared to the
same period last year.
Retail sales for the period increased by 15.4% (6.7% in constant
currency), despite on-going external factors, as highlighted in our
interim results, continuing to impact trading across our markets.
E-commerce sales increased by 30.3% (25.9% in constant currency)
and represented 15.6% of total retail sales. Average retail square
footage rose by 8.8% to 383,330 sq.ft (2015: 352,382 sq.ft). Our
international expansion continued with successful openings in
Atlanta, Miami and Calgary, and further concession openings in
premium department stores in China, Germany, Japan and Spain. We
also successfully relocated our New York Soho store and one of our
Hong Kong stores.
Wholesale sales for the period increased 13.2% (6.7% in constant
currency) reflecting good performances from both our UK and North
American businesses. As previously indicated, we anticipate low
double-digit wholesale sales growth (in constant currency) 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
with licensed store openings in Dubai, South Africa and Mexico.
The Board remains confident of making further progress for the
full year, however, as ever, the full year outcome will be
dependent on trading during the important Christmas period.
Commenting on trading, Ray Kelvin CBE, Founder and Chief
Executive said:
"The brand continues to perform well despite challenging trading
conditions and we remain focused on the long-term development of
Ted Baker as a global lifestyle brand. Our continued growth and
development reflects the strength of the brand, our business model
and our unwavering focus on product quality and design, underpinned
by the skill, innovation and passion of our teams globally.
The reaction to our collections has been very encouraging,
however, the Group's full year results will, as always, be
dependent on trading conditions over the important Christmas
period."
Ted Baker intends to make its next trading statement covering
the period from 13 November 2016 to 7 January 2016 in mid-January
2017.
This announcement contains inside information.
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
/ 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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