Fashion label Ted Baker (TED) has become synonymous with classic 'Britishness' and, judging by its impressive full-year results, it's an image that's increasingly resonating with shoppers the world over.
Retail sales soared by a quarter to £259m, with revenue per sq ft - a good way of measuring comparable sales growth - up 11 per cent to £780m. Within the division, UK and European revenue grew 20 per cent to £199m, helped partly by a string of new store openings across Europe. Sales in the US and Canada jumped 38 per cent to £51m, boosted by higher sales densities and greater brand awareness, but also the nascent e-commerce business and store openings - including nine new concessions in the US. Meanwhile, retail e-commerce revenue rose 56 per cent to £23m.
Ted is only just scratching the surface of developing the brand in the Middle East, Asia and Australia, but trading is promising. The year saw significant store expansion into Asia in particular, where revenue rose 60 per cent to £10m. Finance director Lindsay Page said he was confident about the outlook for the year, which will see higher capital spending, expansion across the UK, US and Europe, and a focus on boosting brand awareness in Asia.
Broker Peel Hunt expects EPS growth of 16 per cent this year to 82p.
| TED BAKER (TED) | ||||
|---|---|---|---|---|
| ORD PRICE: | 2,227p | MARKET VALUE: | £971m | |
| TOUCH: | 2,226-2,228p | 12-MONTH HIGH: | 2,345p | LOW: 1,243p |
| DIVIDEND YIELD: | 1.5% | PE RATIO: | 33 | |
| NET ASSET VALUE: | 257p | NET DEBT: | 8% | |
| Year to 25 Jan | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
|---|---|---|---|---|
| 2010 | 164 | 19.5 | 32.6 | 17.2 |
| 2011 | 188 | 24.2 | 41.5 | 20.6 |
| 2012 | 216 | 24.3 | 42.2 | 23.4 |
| 2013 | 254 | 28.9 | 51.5 | 26.6 |
| 2014 | 322 | 38.9 | 67.2 | 33.7 |
| % change | +27 | +35 | +30 | +27 |
Ex-div: 7 May Payment: 20 Jun | ||||
