Yahoo Finance Boden dress revival help online retailer to profits and sales boost
The end of the pandemic lockdown era has helped online fashion brand Boden to buck the retail downturn with higher sales and profits.
The London based company, founded by Old Etonian Johnnie Boden in 1991, said it was boosted by customers pivoting “to more normal patterns of buying, with demand for dresses recovering at the expense of loungewear and jersey tops.”
Sales of children’s wear was also strong, particularly in the first half of the year when Covid restrictions meant that parents were focussing more on spending on their kids.
The privately owned company filed results for 2021 at Companies House showing turnover up 7.4% at £357.4 million and pre-tax profits 19% higher at £22.078 million. The business paid an £8 million dividend to shareholders.
US sales were particularly strong rising 21% from £111 million to £134 million while turnover from the UK and rest of the world was flat at £223.5 million. Last year it had 1.9 million customers, up 6%.
The company, whose fans include David Cameron and the Princess of Wales, said the figures represented “a robust performance...in the context of the ongoing Covid-19 pandemic and the impact of Brexit.”
Boden added that it faced “significant incremental costs” as a result of Brexit and increased freight costs, which totalled £14 million last year.
Sales in the EU dipped due to “added complexity and delays to the delivery service for customers”
