12th Jun 2007 07:02
Ted Baker PLC12 June 2007 12 June 2007 TED BAKER PLC INTERIM MANAGEMENT STATEMENT Ted Baker, the British designer Brand is pleased to announce a 6.4% increase inGroup revenue for the 19 week period from 28 January to 9 June 2007 (the "period"), compared to the same period last year, with gross margins in line withexpectations. Retail sales for the period were 12.8% above the same period last year. Averageretail square footage rose by 6.9% over the period to 152,043 sq.ft. (2006:142,260 sq.ft.). Once again, the Brand's strong Spring / Summer collections andmeticulous focus on high product quality and attention to detail continue todrive growth. During the period we were delighted to announce the launch of astandalone store dedicated purely to womenswear in Langley Court, Covent Gardenand the opening of a store in Gatwick North. Wholesale sales for the period were 6.7% below the same period last year. Asstated in our preliminary results, conditions have remained difficult for someof our wholesale customers and we continue to monitor the profile of ourwholesale customers to ensure they remain appropriate for our brand. Our product and territorial licences continue to trade in line with expectationsand we are pleased to announce the opening of three further licensed stores inDubai, Kuala Lumpur, and Taiwan taking the total to nine through our licenceagreements with Li and Fung Group of Companies and RSH Limited. We expect the growth of retail sales and licence income to continue to exceedthat of wholesale sales during this year, reflecting our tight control over thedistribution of the brand. This change in balance within our turnover will leadto a shift in the phasing of profit from the first half to the second half, butthe outlook for the financial year as a whole remains unaffected. In March we purchased, out of available cash resources, 830,807 of our ownshares at 590.0p per share to be held in treasury. Commenting on trading, Ray Kelvin, Founder and Chief Executive, said: "We are pleased to report that trading across the Group has been in line withour expectations. We remain dedicated to the careful global expansion of thebrand in the Far East and Asia, through our licence partners and we plan to opennew stores in Dublin and Brighton in the second half of the year. While theresults for the full year will, as always, be dependent on trading in the secondhalf of the financial year, the Board remains confident of another successfuloutcome for the year." Enquiries: Ted Baker Tel: 020 7255 4800Lindsay Page, Finance Director Hudson Sandler Tel: 020 7796 4133Michael Sandler / Kate Hough This information is also available on Ted Baker's Investor Relations site atwww.tedbaker.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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