Interim Management Statement
June 15 2010 - 2:00AM
UK Regulatory
TIDMTBK
RNS Number : 6005N
Ted Baker PLC
15 June 2010
15 June 2010
TED BAKER PLC
("TED BAKER")
INTERIM MANAGEMENT STATEMENT
FOR THE 19 WEEK PERIOD FROM 31 JANUARY 2010
TO 12 JUNE 2010
Ted Baker, the British designer brand is pleased to announce an 18.0% increase
in Group revenue for the 19 week period from 31 January 2010 to 12 June 2010
(the "period"), compared to the same period last year, with gross margins in
line with expectations.
Retail sales for the period were 20.4% above the same period last year and
average retail square footage rose by 10% over the period to 222,339 sq.ft.
(2009: 202,206 sq.ft.). Trading in the UK has continued to perform well and the
improved trend in our overseas markets, as reported at the time of our annual
results, has continued. As previously announced, we will open four new stores in
the US later this year in Chicago, Santa Monica, Phoenix and New York.
Wholesale sales for the period were 8.2% above the same period last year and in
line with our expectations. The re-launch of our US wholesale business under our
own management has started well and we are encouraged by the positive reaction
received to date.
Our product and territorial licences continue to perform in line with
expectations. In April we opened a store in the Dubai Marina Mall, Dubai,
through our territorial licensee RSH Limited. We plan to open a store in Sydney,
Australia and a store in Abu Dhabi with our respective joint venture partners in
these territories towards the end of the year.
We have been very pleased by the performance of the stores in Hong Kong that
were acquired at the start of the financial year and are considering further
opportunities to expand in the region. Our licence partner in Taiwan, Yun San
Corporation, is also making good progress at this early stage.
We have been encouraged by trading since the start of the financial year and are
pleased with the Group's performance to date, especially in our overseas
markets. Whilst we remain mindful of the uncertain economic environment, we
believe we are well positioned to deal with the challenges ahead.
Commenting on trading, Ray Kelvin, Founder and Chief Executive, said:
"We have made a good start to the financial year and I am pleased with our
performance, especially in our overseas markets.
Quality of service, design and creativity are at the heart of everything we do
at Ted Baker. Whilst we are mindful of the uncertain macro economic environment,
these strengths continue to drive our business forward and we have been pleased
with the customer response to our Spring / Summer collections."
Enquiries:
+------------------------------+------------------------------+
| Ted Baker | Tel: 020 7255 4800 |
+------------------------------+------------------------------+
| Ray Kelvin, Founder and | |
| Chief Executive | |
+------------------------------+------------------------------+
| Lindsay Page, Finance | |
| Director | |
+------------------------------+------------------------------+
| | |
+------------------------------+------------------------------+
| Hudson Sandler | Tel: 020 7796 4133 |
+------------------------------+------------------------------+
| Michael Sandler / Kate Hough | |
| / Alex Brennan | |
+------------------------------+------------------------------+
This information is also available on Ted Baker's Investor Relations site at
www.tedbaker.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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