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Ted Baker announces 12.5% growth in retail division
16 Jan '08
2 min read
Ted Baker, the British designer Brand, is pleased to announce a 12.5% increase in sales in its retail division for the period 1 November 2007 to 24 December 2007, compared to the same period last year. Gross margins were in line with management expectations and we are starting the new season with a clean stock position.
Average retail square footage rose by 8.4% over the period to 164,545 sq.ft. (2006: 151,748 sq.ft.). During the period we opened a store in Brighton (UK) and Aventura Mall, Florida (US) and we have been pleased with the performance at both of these locations. Our retail licencee, RSH Limited, also opened a further licensed store in Jakarta, bringing the total number of licensed stores and concessions in the Middle East and Asia to 17.
We have seen a strong performance from the retail division over the second half of the year resulting in a 14% increase in sales for the period 12 August 2007 to 24 December 2007, compared to the same period last year, on a 7.2% increase in average retail square footage. We expect to announce our preliminary results for the 52 weeks to 26 January 2008 on Tuesday 18 March 2008.
Commenting on trading, Ray Kelvin, Founder and Chief Executive, said: “We are pleased to report that the brand's performance has once again been strong and trading across the Group has been in line with our expectations. We look forward to a successful outcome for the full year.”
Ted Baker is one of the fastest-growing leading lifestyle brands in the UK. Its collections have expanded rapidly since its beginnings as a Menswear brand in Glasgow in 1987. Today Ted Baker offers a wide range of trendy and innovative collections including: Menswear, Womenswear, Global, Endurance, Accessories, Teddy Boy, Teddy Girl, Teddy Baby, Fragrance, Skinwear, Footwear, Eyewear and Watches.
Average retail square footage rose by 8.4% over the period to 164,545 sq.ft. (2006: 151,748 sq.ft.). During the period we opened a store in Brighton (UK) and Aventura Mall, Florida (US) and we have been pleased with the performance at both of these locations. Our retail licencee, RSH Limited, also opened a further licensed store in Jakarta, bringing the total number of licensed stores and concessions in the Middle East and Asia to 17.
We have seen a strong performance from the retail division over the second half of the year resulting in a 14% increase in sales for the period 12 August 2007 to 24 December 2007, compared to the same period last year, on a 7.2% increase in average retail square footage. We expect to announce our preliminary results for the 52 weeks to 26 January 2008 on Tuesday 18 March 2008.
Commenting on trading, Ray Kelvin, Founder and Chief Executive, said: “We are pleased to report that the brand's performance has once again been strong and trading across the Group has been in line with our expectations. We look forward to a successful outcome for the full year.”
Ted Baker is one of the fastest-growing leading lifestyle brands in the UK. Its collections have expanded rapidly since its beginnings as a Menswear brand in Glasgow in 1987. Today Ted Baker offers a wide range of trendy and innovative collections including: Menswear, Womenswear, Global, Endurance, Accessories, Teddy Boy, Teddy Girl, Teddy Baby, Fragrance, Skinwear, Footwear, Eyewear and Watches.
Ted Baker PLC
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