British lifestyle retailer Boden has revealed that its sales have fallen by 14 per cent to £332.7 million for the year ended 31 December 2020. It was £387.9 million a year before.
However, the retailer saw its pre-tax profit surge from £15.4 million in 2019 to £18.5 million during the period.
Boden has attributed the good pre-tax profit to robust performance in childrenswear and international sales. The retailer also said that it benefitted significantly from the drastic reduction in return rates, but it expects the same to unwind during this year.
2021 has been good so far! Boden has witnessed its sales rise by 9 per cent in the first 6 months of the year, with the performance being exceptionally good in the US.
An elated Johnnie Boden, Founder and Creative Director, Boden, said “We are now well placed for growth as the brand goes from strength to strength and we are looking forward to the future with renewed confidence.”
The retailer also has plans to invest significantly in IT systems as well as in developing website infrastructure.
Founded in 1991, London-based Boden sells in several countries, with websites (boden.com) for the UK, the US, Germany and Australia. It is known majorly for its womenswear, menswear and childrenswear.