Ted Baker PLC Trading Update (4187B)

TIDMTED

RNS Number : 4187B

Ted Baker PLC

10 January 2018

10 January 2018

Ted Baker Plc

("Ted Baker" or the "Group")

Trading Update

For the 8 week period from 12 November 2017 to 6 January 2018

"Good retail performance over the Christmas period"

Ted Baker, the global lifestyle brand, announces that retail sales increased by 9.0% (10.5% in constant currency) for the 8 week period from 12 November 2017 to 6 January 2018 (the "period"), compared to the same period last year. E-commerce sales increased by 35.0% (36.4% in constant currency) and represented 30.1% of total retail sales. Average retail square footage rose by 5.9% to 409,226 sq.ft (2016: 386,252 sq.ft) and the Group's expansion continued with the opening of a new store in Montreal, further concession openings in Germany and Spain and with our licence partners, an additional store in each of Malaysia, Mexico and Qatar.

Gross margins were in line with our expectations and we expect to end the year with a clean stock position.

We intend to announce our Annual Results for the 52 weeks ending 27 January 2018 on 22 March 2018 and the Board anticipates that results will be in line with its expectations.

Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said:

"The Ted Baker brand has continued to perform in line with expectations over the Christmas period, delivering a good retail performance driven by particularly strong growth from e-commerce, which is an increasingly important part of our retail business. This pleasing result reflects the strength of the brand and the quality of our collections as well as the hard work, skill and commitment of our teams.

Whilst external trading conditions are expected to remain challenging in the year ahead, the strength of our brand and business model means that we remain well positioned to continue the long-term development of Ted Baker as a global lifestyle brand."

This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of the Group is Charles Anderson, Finance Director & Company Secretary.

 
 Ted Baker                             Tel: +44 (0) 
                                       20 7255 4800 
 Ray Kelvin CBE, Founder & Chief 
  Executive 
 Lindsay Page, Chief Operating 
  Officer & Group Finance Director 
 Charles Anderson, Finance Director 
  & Company Secretary 
 
 Hudson Sandler                        Tel: +44 (0) 
                                       20 7796 4133 
 Alex Brennan / Hattie O'Reilly 
  / Fern Duncan 
 

Enquiries and further information:

www.tedbaker.com

www.tedbakerplc.com

Media images available for download at:

www.tedbakerplc.com/ted/en/mediacentre/imagelibrary

Cautionary statement regarding forward-looking statements

This announcement contains certain forward-looking statements. These forward-looking statements include matters that are not historical facts or are statements regarding the Group's intentions, beliefs or current expectations concerning, among other things, the Group's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Group operates.

Forward-looking statements are based on the information available to the Directors at the time of preparation of this announcement, and will not be updated. The Directors can give no assurance that these expectations will prove to have been correct. Due to inherent uncertainties, including both economic and business risk factors underlying such forward looking information, actual results may differ materially from those expressed or implied by these forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

January 10, 2018 02:00 ET (07:00 GMT)