Ted Baker PLC Trading Update (8437T)
January 11 2017 - 1:00AM
UK Regulatory
TIDMTED
RNS Number : 8437T
Ted Baker PLC
11 January 2017
11 January 2017
Ted Baker Plc
("Ted Baker" or the "Group")
Trading Update
For the 8 week period from 13 November 2016 to 7 January
2017
"Good retail performance over the Christmas period"
Ted Baker, the global lifestyle brand, is pleased to announce a
17.9% (10.6% constant currency) increase in retail sales for the 8
week period from 13 November 2016 to 7 January 2017 (the "period"),
compared to the same period last year. This good performance was
achieved despite a backdrop of on-going external factors, as
highlighted in our interim results, continuing to impact trading
across our markets. E-commerce sales increased by 35.0% (31.0%
constant currency) and average retail square footage rose by 8.5%
over the period to 386,252 sq.ft. (2016: 355,907 sq.ft.). Expansion
continued during the period with further concession openings in
China and, with our licence partners, our first store in Bahrain
and an additional store in Indonesia.
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
28 January 2017 on 23 March 2017 and the Board anticipates that
results will be in line with its expectations.
Commenting on trading, Ray Kelvin CBE, Founder and Chief
Executive said:
"Ted Baker has continued to perform well over the Christmas
period against a tough trading backdrop. This result reflects the
appeal of the brand and the quality of our collections as well as
the talent and commitment of our team. On behalf of the Board, I
would like to thank all colleagues across the world for their
continued passion and Tedication.
The strength of the brand and our multiple channels of
distribution leave us well placed to continue the development of
Ted Baker as a global lifestyle brand."
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 / 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
This announcement contains inside information.
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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