LONDON — British retailer Boden posted a 10.7 percent uptick in revenues in 2018, crediting investments to improve U.S. operations and an expanded international customer base.
Sales reached 383 million pounds, compared to 346 million pounds in 2017, while pre-tax profit rose 11 percent to 30 million pounds.
Despite the double-digit profit and revenue growth, chief executive officer Jill Easterbrook said she would step down at the end of the year.
“We have achieved a huge amount over the last three years taking a great brand and laying the foundations for future long-term success. I know that Boden will continue to go from strength to strength in the years to come,” said Easterbrook, adding that she plans to pursue more nonexecutive roles.
Despite the uncertainty ahead of Brexit and the contingency plans that Boden has put in place to prepare for possible export tariffs being imposed on shipments to the European Union, the company said it plans to continue investing in growth.
Boden said it would continue to develop new digital platforms and grow its wholesale partnerships, after a successful women’s wear launch at Nordstrom.
“2019 is proving challenging for the retail sector. We have felt the impact of ongoing consumer uncertainty. This macro environment and our continued investment is likely to have a negative impact on profitability this year. But we are continuing to grow and believe that we have the foundations in place to build on our strong brand,” Easterbrook added.
Her successor has yet to be named.