Interim Management Statement

 

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: [phone]           | 
+------------------------------+------------------------------+ 
| Ray Kelvin, Founder and      |                              | 
| Chief Executive              |                              | 
+------------------------------+------------------------------+ 
| Lindsay Page, Finance        |                              | 
| Director                     |                              | 
+------------------------------+------------------------------+ 
|                              |                              | 
+------------------------------+------------------------------+ 
| Hudson Sandler               | Tel: [phone]           | 
+------------------------------+------------------------------+ 
| 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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