DJ Ted Baker PLC Trading Update
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.”
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