Saturday, February 27, 2021

Joules posts double digit growth in all sectors

Joules has recorded double-digit growth in sales, profits and customer numbers in its half-year report.

In the six months to November 27, 2016, the fashion retailer posted a 16.2 per cent increase in revenues to £81.4 million, and pre-tax profits rose by nearly a fifth to £7.5 million.

Online sales saw a significant rise of 30.3 per cent, amid an overall retail revenue rise of 15.8 per cent.

Growth was also strong in its active customer base, skyrocketing 30 per cent to 922,000. 

International sales also saw a boost of nearly 40 per cent, accounting for 10.6 per cent of the group total.

READ MORE: Joules welcomes 22% sales boost over Christmas

“Joules has continued to perform well during the first half with strong growth delivered across the brand‘s distribution channels and target markets,” chief executive Colin Porter said.

“This significant progress reflects the quality and design of our products and the growing demand for the Joules brand, both in the UK and internationally.

“The board remains confident in the brand‘s continued development both in the UK and internationally.”

Christmas sales at the retailer also showed positive growth, rising 22.8 per cent compared to the prior year. 

Porter added that the second half is off to a promising start.

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