Jun 16, 2009
Ted Baker sales rise; confident on full-year
Jun 16, 2009
LONDON, June 16 (Reuters) - British designer brand Ted Baker Plc (TBK.L) said on Tuesday 16 June 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.
Ted Baker Womenswear Spring-Summer 2009
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 (HTMXQ.PK), 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 15 June at 374.5 pence, valuing the business at 156 million pounds ($254.4 million). (Reporting by James Davey, editing by Will Waterman)
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