🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

UPDATE 1-Ted Baker sales rise; confident on full-year

Published 06/16/2009, 03:04 AM
Updated 06/16/2009, 03:08 AM

* 19 weeks to June 12 revenue up 7.6 percent

* Gross margins in line with expectations

* Retail sales up 15.2 percent, wholesale down 15.7 percent

(Adds detail)

LONDON, June 16 (Reuters) - British designer brand Ted Baker Plc said on Tuesday it was confident full-year results would be in line with expectations as it posted a 7.6 percent increase in revenue for the 19 weeks to June 12.

The group said gross margins were in line with expectations.

Ted Baker's retail sales increased 15.2 percent, reflecting a 17.1 percent rise in trading space.

"Our (retail) performance in the UK has been better than anticipated, although trading conditions in our overseas markets remain challenging," it said.

Wholesale sales fell 15.7 percent, with the trend expected to continue for the balance of the year.

"The current economic environment is resulting in difficult trading conditions for some of our wholesale customers," said the firm.

Ted Baker added that its product and territorial licences continued to trade in line with expectations, with the exception of North American partner Hartmarx Corp, which filed for Chapter 11 bankruptcy in January.

The group does not expect this to have a material effect on its business.

Shares in Ted Baker, which have increased by a quarter over the last three months, closed on Monday at 374.5 pence, valuing the business at 156 million pounds ($254.4 million). (Reporting by James Davey, editing by Will Waterman)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.