19th Nov 2009 07:00
19 November 2009
TED BAKER PLC
("TED BAKER")
INTERIM MANAGEMENT STATEMENT
FOR THE 13 WEEK PERIOD FROM 16 AUGUST TO 14 NOVEMBER 2009
Ted Baker, the British designer brand, is pleased to announce an 8.2% increase in Group revenue for the 13 week period from 16 August to 14 November 2009 (the "period"), compared to the same period last year, with gross margins in line with expectations.
Retail sales for the period were 19.8% above the same period last year and average retail square footage rose by 15.0% over the period to 207,150sq.ft. (2008: 180,194 sq.ft.). This result continues to reflect a better than anticipated performance in the UK, offset by difficult trading conditions in our overseas markets.
During the period we opened stores in Heathrow Terminal 1 and Boston, USA. We also opened our second store in Melbourne, Australia through our joint venture in the territory. We have been pleased with the performance of all three stores at this early stage.
Wholesale sales for the period were 25.0% below the same period last year and this continues to reflect a combination of factors including the transfer of some wholesale accounts to retail concessions, the closure of certain accounts no longer appropriate for our brand and the difficult trading conditions being experienced by some of our wholesale customers.
Our product and territorial licences continue to trade in line with expectations and we continue to consider further opportunities to develop the brand in North America.
Although we continue to trade ahead of our expectations, as always the results for the full year will depend upon the key Christmas trading period. The brand is well positioned and with a strong balance sheet we will take advantage of opportunities as they may arise.
Commenting on trading, Ray Kelvin, Founder and Chief Executive, said:
"I am pleased with the Group's performance for the period. Reactions to our Autumn / Winter collections have been positive and we have also been pleased with our customers' response to Born by Ted Baker, our highly designed men's casualwear collection which was launched in August.
We have a strong balance sheet and will continue to invest carefully in the long term development of the Ted Baker brand."
Enquiries:
|
Ted Baker |
Tel: 020 7255 4800 |
|
Lindsay Page, Finance Director |
|
|
Hudson Sandler |
Tel: 020 7796 4133 |
|
Michael Sandler / Alex Brennan |
This information is also available on Ted Baker's Investor Relations site at www.tedbaker.com
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