Boden’s international business overtook its UK business in 2011. While total group sales rose by 6% during the year to £245.9m, from £232.2m in 2010, revenues in Germany rose by 21% and in the US by 9%. Boden now trades in more than 50 countries, and has a new pan-European website.
But despite growing sales, profits at the multichannel fashion retailer were hit as it absorbed the cost of higher cotton prices “and other inflationary pressures during 2011” without passing them on to customers. Pre-tax profits fell back to £17.9m from £32.5m in 2010.
The retailer, which trades through a London shop and its long-established catalogue as well as online, said that 80% of its sales were made over the internet in 2011, up from 76% in 2010. Significantly, 15% of all its sales are now taken over iPad tablets.
“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% of the business,” said Chief Executive Julian Granville.
“We have had an encouraging start to the year and womenswear is trading well across the group. We have a strong Autumn/Winter range in place to maintain momentum in the second half.