Tuesday, August 4, 2020

Joules enjoys growth in challenging retail sector

Market Harborough-based lifestyle brand Joules has enjoyed continued growth according to annual results for the year ended 26 May 2019.

Group revenue increased by 17.2% to £218.0 million, from £189.5m, while underlying profit before tax grew 19.4% to £15.5 million, from £13m.

Colin Porter, Chief Executive Officer, said: “Joules has delivered another strong performance this year with growth across channels and product categories, both in the UK and internationally. These results in a challenging retail sector reflect the strength and appeal of the Joules brand, the flexibility of our ‘Total Retail’ model, and the success of our carefully managed product extension strategy.

“I would like to take this opportunity to extend my thanks to all members of the Joules team for their hard work during the Period. Their passion, expertise and commitment to delivering great products and experiences for our customers continues to drive Joules’ growth and success.

“We are pleased with the Group’s performance to date in the early stages of our new financial year, with trading in line with our expectations. Looking ahead, whilst the consumer retail environment is anticipated to remain challenging, particularly in the UK, the Board and I believe that Joules remains well-positioned for continued success both in the UK and our target international markets.”

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