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Ted Baker Plc

Ted Baker Plc Resilient sales performance reflects the strength of the brand

Ted Baker Plc (LON:TED) today announced Annual Results for the 52 weeks ended 26 January 2019.

 

 

Highlights

 

52 weeks

ended

26 January

2019

52 weeks

ended

27 January

2018

Change

Group Revenue

£617.4m 

£591.7m 

4.4% 

Profit Before Tax and Exceptional Items

£63.0m 

£73.5m 

(14.3%)

Profit Before Tax

£50.9m 

£68.8m 

(26.1%)

Basic EPS

91.5p 

119.0p 

(23.1%)

Adjusted EPS

114.2p 

127.7p 

(10.6%)

Total Dividend

58.6p 

60.1p 

(2.5%)

· Group revenue up 4.4% (5.0% in constant currency) to £617.4m

· Retail sales including e-commerce up 4.2% (up 4.8% in constant currency) to £461.0m

· UK and Europe retail sales up 4.6% (up 4.5% in constant currency) to £315.0m

· North America retail sales up 4.7% (up 7.0% in constant currency) to £125.7m

· Rest of the World retail sales down 4.7% (down 2.9% in constant currency) to £20.3m

· E-commerce sales up 20.4% (up 20.8% in constant currency) to £121.7m

· Selective expansion continued with:

· Two stores in the UK, five stores in the US, one store in Spain and one store in China.

· One outlet in the UK, our first outlet in Italy, two outlets in Germany and one outlet in France

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

· Licensee store openings in new and existing markets

· Wholesale sales up 4.8% (up 5.7% in constant currency) to £156.5m

· Licence income up 3.1% to £22.1m

· Completed acquisition of No Ordinary Shoes Limited and No Ordinary Shoes USA LLC

Acting Chief Executive Officer, Lindsay Page said:

“Ted Baker has continued to grow across each of the brand’s distribution channels despite difficult trading conditions across a number of the Group’s global markets. This resilient sales performance again reflects the strength of the brand, the talent of our teams, and the quality of our collections.

I would like to take this opportunity to thank each of my colleagues for their outstanding enthusiasm, skill and commitment and our global partners for their support throughout the year.

We have made a number of significant investments to ensure that Ted Baker remains well positioned for long term development. We are excited by our Spring/Summer collections and the Board remains focussed on identifying opportunities in the evolving retail market to further expand the brand.”

Committee Changes

Following his appointment as Executive Chairman, David Bernstein CBE has stepped down from the Remuneration Committee to ensure the Group continues to comply with the UK Corporate Governance Code 2018.

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