DJ Ted Baker PLC Trading Update
Ted Baker, the global lifestyle brand, is pleased to announce a 14.8% increase in Group revenue for the 13 week period from 14 August 2016 to 12 November 2016 (the “period”), compared to the same period last year.
Retail sales for the period increased by 15.4% (6.7% in constant currency), despite on-going external factors, as highlighted in our interim results, continuing to impact trading across our markets. E-commerce sales increased by 30.3% (25.9% in constant currency) and represented 15.6% of total retail sales. Average retail square footage rose by 8.8% to 383,330 sq.ft (2015: 352,382 sq.ft). Our international expansion continued with successful openings in Atlanta, Miami and Calgary, and further concession openings in premium department stores in China, Germany, Japan and Spain. We also successfully relocated our New York Soho store and one of our Hong Kong stores.
Wholesale sales for the period increased 13.2% (6.7% in constant currency) reflecting good performances from both our UK and North American businesses. As previously indicated, we anticipate low double-digit wholesale sales growth (in constant currency) for the full year.
Both retail and wholesale gross margins were in line with our expectations.
Our product and territorial licensees continue to perform well with licensed store openings in Dubai, South Africa and Mexico.
The Board remains confident of making further progress for the full year, however, as ever, the full year outcome will be dependent on trading during the important Christmas period.
Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said:
“The brand continues to perform well despite challenging trading conditions and we remain focused on the long-term development of Ted Baker as a global lifestyle brand. Our continued growth and development reflects the strength of the brand, our business model and our unwavering focus on product quality and design, underpinned by the skill, innovation and passion of our teams globally.
The reaction to our collections has been very encouraging, however, the Group’s full year results will, as always, be dependent on trading conditions over the important Christmas period.”
Ted Baker intends to make its next trading statement covering the period from 13 November 2016 to 7 January 2016 in mid-January 2017.
Retail sales for the period increased by 15.4% (6.7% in constant currency), despite on-going external factors, as highlighted in our interim results, continuing to impact trading across our markets. E-commerce sales increased by 30.3% (25.9% in constant currency) and represented 15.6% of total retail sales. Average retail square footage rose by 8.8% to 383,330 sq.ft (2015: 352,382 sq.ft). Our international expansion continued with successful openings in Atlanta, Miami and Calgary, and further concession openings in premium department stores in China, Germany, Japan and Spain. We also successfully relocated our New York Soho store and one of our Hong Kong stores.
Wholesale sales for the period increased 13.2% (6.7% in constant currency) reflecting good performances from both our UK and North American businesses. As previously indicated, we anticipate low double-digit wholesale sales growth (in constant currency) for the full year.
Both retail and wholesale gross margins were in line with our expectations.
Our product and territorial licensees continue to perform well with licensed store openings in Dubai, South Africa and Mexico.
The Board remains confident of making further progress for the full year, however, as ever, the full year outcome will be dependent on trading during the important Christmas period.
Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said:
“The brand continues to perform well despite challenging trading conditions and we remain focused on the long-term development of Ted Baker as a global lifestyle brand. Our continued growth and development reflects the strength of the brand, our business model and our unwavering focus on product quality and design, underpinned by the skill, innovation and passion of our teams globally.
The reaction to our collections has been very encouraging, however, the Group’s full year results will, as always, be dependent on trading conditions over the important Christmas period.”
Ted Baker intends to make its next trading statement covering the period from 13 November 2016 to 7 January 2016 in mid-January 2017.