LONDON — Despite the challenging mood on the U.K. high street, British retailer Boden has been in growth mode.
According to the group’s financial results for the year to December 2017, sales rose 13 percent to 347.1 million pounds. Pre-tax profits were 27.3 million pounds, up 4 percent from the previous year.
The boost in sales comes from a significant 14 percent increase in customers last year, as well as a rise in the average spend per customer.
The company highlighted a number of key growth factors, primarily the expansion of its distribution channels, with a new store on London’s King’s Road and a store-in-store in the John Lewis department store.
Boden has also been working to update its women’s collections, with a mix of classic and modern, on-trend pieces, as well as championing emerging British talent through its “Future British” initiative.
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In terms of its back office, the company has been investing in growing its internal teams and opening a new warehouse in Leicester, England’s East Midlands region.
The retailer’s expansion in the U.S., through a partnership with Nordstrom, has also fueled growth. Its women’s wear line made its debut in Nordstrom at the beginning of 2018, after a successful launch of its children’s business.