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Ted Baker Plc

Ted Baker Plc continued growth is testament to the strength of the Ted Baker brand

Ted Baker Plc (LON:TED), today announced interim results for the 28 weeks ended 11 August 2018

 

 

Highlights

 

28 weeks

ended

11 August

2018

28 weeks

ended

12 August

2017

Change

Group Revenue

£306.0m 

£295.7m 

3.5% 

Profit Before Tax and Exceptional Items

£25.0m 

£24.2m 

3.5% 

Profit Before Tax

£24.5m 

£25.3m 

(3.2%)

Basic EPS

42.8p 

43.6p 

(1.8%)

Adjusted EPS

43.8p 

41.7p 

5.0% 

Interim Dividend

17.9p 

16.6p 

7.8% 

 

· Group revenue up 3.5% (5.5% in constant currency) to £306.0m

· Retail sales including e-commerce up 1.1% (up 2.9% in constant currency) to £220.1m

· UK and Europe retail sales up 1.0% (up 0.7% in constant currency) to £147.1m

· North America retail sales up 1.8% (up 8.1% in constant currency) to £61.8m

· Rest of the World retail sales down 1.8% (up 1.8% in constant currency) to £11.2m

· E-commerce sales up 24.1% (up 25.7% in constant currency) to £53.0m

· Planned expansion continued with:

· Two new stores in the UK, three new stores in the US, one new store in Spain, two new outlets in Germany and one new outlet in France

· Further concessions with leading department stores across the UK, Europe and North America

· Licensee openings in India, Kazakhstan, Malaysia, Mexico, Singapore, Taiwan and Ukraine

· Wholesale sales up 10.1% (up 12.8% in constant currency) to £85.9m

· Licence income up 11.7% to £10.9m

· Measured and controlled approach to cost saving initiatives savings due to our business model

Commenting, Ray Kelvin CBE, Founder and Chief Executive, said:

“Ted Baker has continued to develop and expand as a global lifestyle brand across its markets and distribution channels despite challenging external trading conditions. This continued growth is testament to the strength of the Ted Baker brand, the design and quality of our collections as well as the dedication and talent of our teams.

Whilst we believe that the second half of the year will remain challenging due to external factors, we are well positioned to continue Ted Baker’s long-term development. Our flexible business model ensures that our customer has multiple channels to engage with Ted Baker and our global e-commerce business continues to expand, supported by our digital marketing strategy and unique stores that showcase the brand.”