For the 8 week period from 11 November 2012 to 5 January 2013
Continued development of the brand in all markets
Ted Baker, the British designer brand, is pleased to announce a 20.9% increase in retail sales for the 8 week period from 11 November 2012 to 5 January 2013, compared to the same period last year. Average retail square footage rose by 13.9% over the period to 273,340 sq.ft. (2012: 240,001 sq.ft.). Gross margins were in line with expectations and we expect to end the season with a clean stock position. As in previous years, there was no significant promotional activity pre-Christmas.
The UK and Europe performed strongly in a competitive trading environment and our e-commerce business continues to perform very well. In the US, we continue to make good progress and build brand awareness. In Asia, where we are in the early stages of investing in new markets for the longer term development of the brand, we have been encouraged by the initial response to the brand and collections. We have been pleased by the new stores opened during the period, which included our first store in Toronto, Canada and a store in Heathrow Terminal 3.
The Board anticipates that profit before taxation for the year ending 26 January 2013 will be in line with expectations. We intend to announce our Annual Results for the 52 weeks ending 26 January 2013 on 21 March 2013.
Commenting on trading, Ray Kelvin CBE, Founder and Chief Executive said:
"The Group has delivered a good result over the Christmas period. We were pleased by the performance in markets where the brand is established and continue to build brand awareness in our newer markets, where we are investing for the longer term. We remain focussed on the continued development of the brand globally with further store openings planned in Shanghai, China in the first half of 2013.
On behalf of the Board I would like to thank the entire team at Ted Baker for their continued hard work and commitment over this successful period."
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