Sunday, November 19, 2017

Joules celebrates “great progress” driven by international revenue

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Newly listed fashion brand Joules has recorded a 12.7% growth in annual revenues to £131.3m as the retailer enjoyed a sharp increase in international sales.

Now accounting for over 10% of total group sales, overseas turnover rose by 24.7% to £13.2m. Joules also noted its strong presence in Germany and North America.

Retail sales increased by 11% to £93.7m and wholesale revenue grew 17.6% to £37.2m.

Colin Porter, Joules‘ Chief Executive praised the fashion retailer‘s “great progress” and stated that continued growth is oncoming.

“This has been a year of great progress in further developing Joules as a fun, family, ‘time-off’ lifestyle brand across multiple sales channels both in the UK and internationally” Porter added.

“We have a clear growth strategy of increasing customer value, rolling-out UK stores, accelerating international growth, and delivering product extensions.”