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Womenswear drives sales and profits at Boden

Boden’s pre-tax profit grew 9.6% to £26.2m in the year to 31 December 2016, boosted by strong womenswear sales.

Group sales rose 8.9% year on year to £308.3m. Boden said the second half was “particularly encouraging”, with double-digit growth in womenswear. It ended the year with £33.5m in cash.

Boden said it had a “strong start to 2017”, with first half sales up 8% year on year.

A major investment programme started in 2016 and will continue throughout the rest of 2017 and into 2018. As part of this, Boden has created a new warehouse and call centre in Leicester, and is redeveloping its headquarters. The latter work is due for completion in April 2018.

Meanwhile, the retailer confirmed plans to open a store on King’s Road in London this autumn, as exclusively revealed by Drapers in July, and to open five concessions in John Lewis.

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It has recently launched online with Next Label, La Redoute and Zalando, and will soon begin selling womenswear via US retailer Nordstrom.

Jill Easterbrook, who was appointed chief executive of Boden on 27 February 2017, said: “The investment in the business and brand is delivering results and we were very pleased with our performance in 2016.

“The first half of this year has started well and has seen continued growth. Our significant investment programme, which will have an impact on future profits, is on track.

“Boden appeals to a loyal customer with strong product, excellent customer experience and a powerful global brand. We are building on this with further investment. There is significant opportunity as we focus on new customers, new distribution channels and new markets.

“We have ambitious plans based on solid foundations as we continue to develop Boden as an international multichannel brand.”

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