Boden's Jill Easterbrook quits, warns on 2019 profits

By

Barbara Santamaria

Published
Sep 6, 2019

Boden CEO Jill Easterbrook has announced she is leaving the British clothier to pursue a non-executive career, but not before warning that this year’s profit will take a hit.

The chief executive, who joined Boden in 2017, will step down from her role at the end of the year to develop a non-executive director portfolio.

Her role will not be directly replaced, with executive chair Julian Granville and chief financial officer Paul O’Leary expected to share her responsibilities together with the existing management team.

Ads

On Friday the clothier warned that the retail sector’s troubles, coupled with continued investment in various projects, has hit profitability in the current financial year. 
But in 2018 the group experienced a 10% rise in sales to £383 million, while pre-tax profit grew from £27 million to £30 million. 

CEO Easterbrook said: “We delivered a strong result in 2018, growing well and delivering more profit than we planned, mainly driven by a very strong US market.

“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.

“However we are continuing to grow and believe that we have the foundations in place to build on our strong brand.”

Founder Johnnie Boden added: “Jill has contributed a huge amount to Boden. She has helped us to grow up. She has been instrumental in building Boden for the future and driving our ambition as an international, digital-first, multi-channel business. 

“Over the last three years, we have invested in new channels, new systems and our people. I am very sad that Jill is leaving us but wish her every success in the future.”