11 Jan 2017 07:00
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 |
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Lindsay Page, Chief Operating Officer & Group Finance Director |
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Charles Anderson, Finance Director & Company Secretary |
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Hudson Sandler | Tel: +44 (0) 20 7796 4133 |
Alex Brennan / Fern Duncan |
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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.