Joules benefits from disciplined approach to promotions
Lifestyle clothing brand Joules saw its revenue edge up 1.3% in the 26 weeks to 24 November.
Retail revenue climbed by 3.1% and there was also an improvement in gross margin as the retailer benefited from a disciplined approach to promotional activity. The company’s figures for the period have been adjusted to take account of a later Black Friday this year.
Following what it described as a challenging September, Joules said there has been positive trading momentum across its own website and store channels over the last two months, with revenue increasing by over 9%. Due to the strong trading, Joules is planning to open four new stores before Christmas.
Nick Jones, the company’s recently joined chief executive, said: “We continue to invest in our proposition to meet changing customer expectations in a scalable and profitable way and, with positive momentum across both digital and physical channels, we are well placed as we enter the important Christmas trading period.”
