TED Ted Baker Plc

TIDMTED

RNS Number : 6466W

Ted Baker PLC

16 November 2017

16 November 2017

Ted Baker Plc

("Ted Baker" or the "Group")

Trading Update

For the 13 week period from 13 August 2017 to 11 November 2017

Continued growth and development of the brand despite challenging conditions

Ted Baker, the global lifestyle brand, announces that Group revenue increased by 7.3% (8.0% in constant currency) for the 13 week period from 13 August 2017 to 11 November 2017 (the "period"), compared to the same period last year.

Retail sales for the period increased by 4.6% (5.1% in constant currency). E-commerce sales increased by 30.5% (31.3% in constant currency) and represented 19.2% of total retail sales. Average retail square footage rose by 5.6% to 404,864 sq.ft (2016: 383,330 sq.ft) and the Group's expansion continued with the opening of a new store in Oxford and further concessions in premium department stores in Canada, Germany and the UK. We also opened an outlet in Chicago and relocated our Bicester outlet. This performance was achieved despite continued challenging external trading conditions across some of Ted Baker's global markets, most notably in October.

Wholesale sales for the period increased by 14.2% (15.4% in constant currency) reflecting good performances from both our UK and North American businesses. We now 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 further licensed store openings in Kuwait and Qatar.

Whilst the outcome for the full year will, as ever, be dependent on trading during the important Christmas period, the Board is confident of making further progress and meeting its full year expectations.

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

"The business has continued to perform well and develop in line with our expectations, reflecting the strength of the Ted Baker brand and the quality of our collections.

The Group's continued growth in the period, despite challenging trading conditions across some of our global markets, has again been underpinned by our business model and the unwavering focus on product quality and design that are central to everything we do.

The reactions to our Autumn/Winter collections have been positive. Whilst the Group's full year results will, as ever, be dependent on trading conditions over the important Christmas period, we remain confident of meeting our expectations for the full year and continuing to develop Ted Baker as a global lifestyle brand."

Ted Baker intends to make its next trading statement covering the period from 12 November 2017 to 6 January 2018 in mid-January 2018.

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 / 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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