Boden — or JP Boden Holdings Limited Group to give it its full name — has released its 2024 results and they show turnover jumping last year.
Boden
Following a “challenging” 2023, it bounced back in the next year and as well as the strong sales growth, its also saw customer growth and a return to profitability.
Looking at the numbers, group turnover was up 19% to £362.8 million with profit before tax of £34.6 million after a 2023 £12.3 million loss. Profit after tax of £26.1 million also swung from loss of £9.4 million the previous year.
Meanwhile active customers were up 10% year on year to 1.8 million while cash increased by £46 million to £70.2 million.
The company said that it saw growth across all major markets with US sales up to £161.7 million from £133.2 million, while UK and rest-of-world sales jumped to £201.1 million from £171.3 million.
Notable highlights included it being the firm’s strongest year to date for US Womenswear sales, particularly dresses and knitwear. It also saw growth in Childrenswear and the reintroduction of the Baby category.
It was helped by the expansion of third-party partnerships, including Nordstrom in the US and Next in the UK and saw higher average order values and improved margins through reduced discounting.
2025 is looking good too with first-half sales growth of 9% and a “significant increase” in profit, with its “best season ever” for full-price womenswear. It has seen double-digit sales growth in the US, and that market now accounts for almost half of this very British brand’s sales.
The company also said that investment in customer recruitment, has delivered 300,000+ new customers in the first half of the year and it has enjoyed further growth in average order values.
It made a major investment in new website platform and customer service systems, which went live in January to improve efficiency, service and delivery of new functionality.
But it’s managing costs and cash “prudently in light of global economic and trade uncertainties”.
This year has also seen it naming Ben Dreyer its new CEO and joining the board while Suzanne Foley, who continues as CFO, also took a seat on the board.
It all comes as the company preps for its first US store. In November it will open a 2,000 square foot space at the Avalon Centre in Alpharetta, Atlanta – “a major milestone in the brand’s US growth strategy”.
Founder and creative director Johnnie Boden said: “After a tricky few years, I’m so proud that the team has delivered a fantastic turnaround, returning Boden to growth and profitability. We’ve had a resoundingly positive response to our refreshed product ranges, especially in Womenswear. We have also acquired a lot of new customers, both in the UK and overseas. The business is in great shape to build on this momentum; the opening of our first US store in November will help us strengthen our presence in our fastest-growing market.”
