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Boden plots UK and US store expansion

British fashion and lifestyle retailer Boden is set to expand its store portfolio and is eyeing up locations in London and the US.

The multichannel business currently has one store in Hanger Green, west London and mainly sells via its catalogue or website.

The move comes as it revealed a 31% rise in pre-tax profit year-on-year to £32m in the year to December 31 2014. Sales rose slightly in 2014, from £278.7m to £280.7m.

US sales had a strong first half to June 2015 with a 13% increase in new customer recruitment.

Boden has begun searching for a new chief executive to replace Julian Granville who has been appointed deputy chairman. In June Boden appointed American Eagle Outfitters vice president Matthew Hilgeman as product director.

Julian Granville, chief executive, said: “The increase in profitability shows that the operational efficiencies and investments that we have put in place are delivering returns. Matthew Hilgeman brings invaluable international brand experience as we continue to expand our overseas operations, particularly in the important and growing US market.”

Johnnie Boden, chairman, added: “Julian has been with Boden for over 20 years and this is a natural transition and part of our structured succession plan. We are in the process of appointing a chief executive who will work closely with both Julian and myself.”

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