Retailer/cataloguer Boden grew sales by 6 percent to £245.9
million ($398.8 million) in the year to 31st December, driven by
a strong presence in Germany and the US. Sales in the US rose by
9 percent, while sales in Germany soared 21 percent in
2011.
During the year, the business implemented significant warehouse
expansions, which allowed it to ramp up operational capacity in
the US and the UK. The year also saw Boden grow its customer base
by 8 percent, reaching 1.3 million active customers.
However, pretax profits at the iconic British brand dropped 45
percent to £17.9 million ($29 million) last year, due to
higher cotton prices and heavy discounting, which impacted
short-term gross margins.
Despite this setback, chief executive Julian Granville says Boden
has a “strong autumn/winter range in place to maintain
momentum in the second half”.
He revealed that although trading in the UK remains challenging,
sales are ahead of last year. The real bright spot, however, is
international performance. “Boden’s distinct British appeal
continues to attract a wide global audience with international
sales accelerating in 2012 and now accounting for more than 50
percent of the business,” he comments.
Sales in Germany are rocketing, up 43 percent in the first half
of 2012 compared to the same time last year. US sales are ahead
by 10 percent in the first half. Boden now trades in more than 50
countries worldwide and has launched a new pan-European website
to facilitate further expansion onto the continent.
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