Home Business News Joules defies retail gloom with strong Christmas sales

Joules defies retail gloom with strong Christmas sales

by LLB Reporter
23rd Jan 19 7:51 am

Joules has defied retail gloom by posting a strong sales rise.

Group revenue increased by 17.6% to £113.1m (up 17.5% in constant currency) .

Approximate revenue growth of +14% excluding the impact of the successful transition of certain wholesale accounts to a retail concession model in the Period.

Underlying Profit Before Tax increased by 14.7% as more customers came through its doors.

Colin Porter, chief executive said, “Joules has delivered another strong performance in the first half of year. As previously reported, this outcome is ahead of our initial expectations for the Period and has been achieved despite challenging trading conditions.

“The business’s success during this first half of the year is testament to the strength of our distinctive brand and the efforts of our fantastic team. We continue to benefit from a well-invested and flexible ‘total retail’ model in the UK, which enables us to respond and adapt to shifting customer preferences. Internationally, the brand continues to grow very well in both the US and Germany.”

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