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Ted Baker's retail sales grow

22
Nov '11
Ted Baker, the British designer brand, is pleased to announce a 7.8% increase in Group revenue for the 13 week period from 14th August 2011 to 12th November 2011, compared to the same period last year.

Retail sales for the period were 12.3% above the same period last year and average retail square footage rose by 7.2% over the period to 237,446 sq.ft. (2010: 221,443 sq.ft.). We have been pleased with our performance across all markets, despite the unseasonably warm weather.

We have been encouraged by the new stores opened in the period, which have included the relocation of our stores in the Bicester Outlet Village and the Bluewater shopping centre to larger units. In the US we have opened a store in San Diego, three further concessions through a leading department store and an outlet store in Wrentham, near Boston.

As anticipated, wholesale sales for the period were 4.7% below the same period last year due to the phasing of sales between the first and second half of the financial year. We expect Group wholesale sales for the full year being some 12.0% ahead of last year.

Underlying input margins have been broadly maintained in line with expectations. Continuing the trend seen in the first half of 2011, the retail gross margin remains slightly below last year due to the mix of product sales.

The good results seen in our licensed stores in the Middle East and Asia in the first half of the year have continued and overall our product and territorial licences have performed well.

Whilst, as always, the Group's full year results will be dependent on trading during the key Christmas period, we have been pleased with the performance in the second half of the year to date. This has been in line with the Board's expectations and reflects the strength of the Ted Baker brand and collections.

Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said:
“The Group has delivered a strong result over the period. Our collections continue to be well received across our domestic and international markets. We continue to expand the brand into new territories, whilst maintaining our focus on design, quality and attention to detail, the core strengths which underpin the Ted Baker brand. We look forward to opening our first stores in Tokyo and Beijing early next year and our store on Fifth Avenue, New York towards the middle of 2012.”

We intend to make our next trading statement covering the period 13th November 2011 to 7th January 2012 in mid January.

Ted Baker PLC


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