Joules sales jump 20% amid continued expansion

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Joules

Fashion retailer Joules has seen sales jump by nearly a fifth in its first half as its chief executive looks “forward with confidence to the second half”.

In the 26 weeks to November 26, sales rose 17.5 per cent to £96.2 million, aided by a 16.2 per cent rise in retail sales to £65.9 million.

This strong performance comes less than two years after Joules went public, and follows a period of sustained international expansion having opened 10 new stores during the period.

In July, Joules posted a 34 per cent rise in profits to £10.1 million in its first year since it floated in May 2016.

“We look forward with confidence to the second half of the financial year, underpinned by the strength of the Joules brand and our collections,” Joules chief executive Colin Porter said.

“Whilst trading conditions will remain challenging, we have seen good growth in our wholesale order book for spring/summer ’18 and are well positioned for the Christmas trading period.”

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