Joules has revealed an 18.2 per cent rise in its sales for the 26 weeks to November 26th. Coming in at £96.2 million, Joules has attributed growth to the ten new stores it opened during the period as well as stronger demand from overseas markets. Joules is one of a number of British lifestyle brands which is developing a growing international following via direct and wholesale customer development. Founder Tom Joule, as chief brand officer, focuses on the creative side of the business which employs its own design team who between them hand-draw all of the prints used in the Joules collections each season. Joule launched the business nearly 30 years ago from a single shop.
Retail revenue – from stores and its eCommerce activity – for the half year grew by 16.2 per cent to £65.9 million, with wholesale revenue up by 23 per cent. The business now boasts more than one million active customers.
CEO Colin Porter said “The Joules brand has performed well in the first half of FY18, delivering further expansion across markets, channels and product categories.” Adding “ Whilst trading conditions will remain challenging, we have seen good growth in our wholesale order book for Spring/Summer 18.” He added that the business was well positioned for the Christmas trading period. Its Interim results will be reported on January 31st.
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