Connecting to LinkedIn...

Boden posts double-digit profits

W1siziisijiwmtuvmdmvmjqvmjmvmdyvnduvmja1l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Online & mail order fashion retailer Boden has today reported a 15 per cent increase in sales for its last year of trading.

In the 52 weeks ending December 31st 2010 revenues totalled £232.2 million, meaning profits for the trader grew 13 per cent year-on-year to £32.5 million over the period.

Economic conditions have deteriorated noticeably since the turn of the year but in the first half of trading ending June 30th 2011 sales have continued to grow, up five per cent on a like-for-like basis.

Julian Granville, CEO of Boden, said: “Given the difficult economic environment over the last year, we are very pleased with our increased profitability and the continued growth of the business. Our customer base continues to expand and we now have over 1.2 million loyal customers world-wide.

“We will continue to focus on international expansion and look forward to testing the French market this autumn, with other European markets to follow in 2012.”

Sales in Germany and Austria grew by 61 per cent in the previous year, with over 100,000 new active customers to the brand, fuelling confidence to introduce the brand into other European markets.

Core UK trading has remained highly sensitive to price promotions according to today’s announcement but initial success of internet-only lines within womenswear means an expansion of this channel will be introduced in the next 12 months.

Granville added: “The successful launch of internet-only styles without the support of catalogue mailings is particularly promising and will help drive profitability in the longer-term. We will look to expand this area over the course of the next year.

“Whilst we remain cautious about the current economic and retail environment, the management are confident that Boden is a strong and robust business and brand that will continue to grow.”

Published on Monday 12 September by Editorial Assistant

Articles similar to Boden

Articles similar to Financial results

comments powered by Disqus