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Ted Baker announces 8.4% growth in group revenue

11
Jun '08
Ted Baker, the British designer brand is pleased to announce a 8.4% increase in Group revenue for the 19 week period from 27 January to 7 June 2008 (the "period"), compared to the same period last year, with gross margins in line with expectations.

Retail sales for the period were 15.4% above the same period last year, driven by our strong Spring Summer collections. Average retail square footage rose by 13.6% over the period to 172,696 sq.ft. (2007:152,043 sq.ft.).

During the period we were delighted to announce the launch of our second standalone store dedicated purely to womenswear in South Molton Street, London as well as the opening of our 'Ted Baker & Friends' store on Cheapside, our first store in the City of London.

Further store openings included Heathrow Terminal 5, Belfast and Cambridge and we have been pleased with the reaction to these new stores.

Wholesale sales for the period were 8.6% below the same period last year, which is an improvement on the figures reported at the time of our preliminary announcement.

We still anticipate that conditions will remain challenging for some of our wholesale customers during 2008 and will continue to take action in respect of those customers who are no longer appropriate for our brand.

As previously outlined, we expect wholesale sales for 2008 to be below the level achieved for the period 26 January 2008.

Our product and territorial licences continue to trade in line with expectations.


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