Sunday, August 9, 2020

Joules end 2017 with growth past expectations

Leicester lifestyle brand Joules recently announced their interim results for the end of 2017.

Group revenue increased by 18.2% from the previous year, driven by growth across retail and wholesale channels.

Retail revenue increased by 16.2% with E-commerce sales up 19.7% and Store sales up 14.2%. Wholesale revenue increased by 23.0%, while international revenue increased by 26.4% and now represents 11.3% of Group revenue.

Joules also highlighted an increase in their active customer base by 18% to 1,090,000, and noted success over Christmas with retail sales over the period up 19.2%.

In particularly good news for the brand, it is now anticipated that full year profit will be slightly ahead of the range of analysts’ expectations.

Colin Porter, Chief Executive, said: “The Joules brand has continued to perform very well, delivering growth in customer numbers and further expansion across channels, product categories and target markets.

“The creativity, energy and ability of our entire team remains critical to driving the business forward.  I would like to take this opportunity to thank all colleagues across the world for their outstanding efforts throughout the Period.

“Joules’ brand, with its distinct heritage and values, underpins the Group’s exciting growth potential as we continue to develop as a British lifestyle brand with broad international appeal.

“Whilst trading conditions look set to remain challenging across the sector, with our differentiated brand, unique product offer, loyal and growing customer base, exceptional team and well-invested infrastructure, Joules is well positioned for continued progress and expansion.”

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