15th Nov 2007 07:02
Ted Baker PLC15 November 2007 15 November 2007 TED BAKER PLC ("TED BAKER") INTERIM MANAGEMENT STATEMENT FOR THE 13 WEEK PERIOD FROM 12 AUGUST TO 10 NOVEMBER 2007 Ted Baker, the British designer Brand is pleased to announce a 14.3% increase inGroup revenue for the 13 week period from 12 August to 10 November 2007 (the "period"), compared to the same period last year, with gross margins in line withmanagement expectations. Retail sales for the period were 13.4% above the same period last year. Averageretail square footage rose by 6.5% over the period to 153,901 sq.ft. (2006:144,565 sq.ft.). During the period we opened a store in Dublin and itsperformance to date has been excellent. We also opened our first store inMelbourne, Australia through a joint venture with our licence partner in theterritory and the initial reaction has been positive. Wholesale sales for the period were 16.3% above the same period last year. Asanticipated at the time of our interim results, this should result in full yearwholesale sales being only slightly below last year, reflecting the difficultconditions experienced by some of our wholesale customers and our continuedmonitoring of the profile of our wholesale customers, to ensure they remainappropriate for our brand. Our product and territorial licences continue to trade in line with expectationsand we are pleased to announce the recent launch of two Ted Baker branded mobilephones in conjunction with The Carphone Warehouse Group ("CWG"), which areavailable exclusively through CWG's store network in the UK and Europe andthrough CWG's websites. Our retail licencees in the Middle East and Asia havealso opened three further stores in Hong Kong and Malaysia (2) and threeconcessions in Taiwan (2) and Thailand. Commenting on trading, Ray Kelvin, Founder and Chief Executive, said: "We are pleased to report that we have received a very positive response fromour customers to our Autumn / Winter collections and trading across the Grouphas been in line with our expectations. We plan to open new stores in Brighton(UK) and Aventura Mall, Florida (US) in November and a further licensed storewill open in Jakarta at the start of December. While the results for the fullyear will, as always, be dependent on trading in the Christmas period, the Boardremains confident of another successful outcome 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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