THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Omni Channel Futures 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Joules boosted by strong online growth

Joules has posted a 66% year-on-year increase in total retail sales through its website and Friends of Joules digital marketplace in the seven weeks to 3… View Article

FASHION

Joules boosted by strong online growth

Joules has posted a 66% year-on-year increase in total retail sales through its website and Friends of Joules digital marketplace in the seven weeks to 3 January.

The uplift was driven by traffic growth and improved conversion rates across the retailer’s digital platforms.

In contrast, total store sales fell by 58% due to the enforced closure of non-essential shops during the Covid-19 pandemic and reduced footfall as and when stores were open.

Joules said it continued to grow its active customer base which reached over 1.5 million by the end of the period.

Commenting on the new Covid-19 lockdown, Joules said the potential loss in group revenues resulting from the closure of its stores, the cancellation of country shows and disruption to wholesale partners is likely to be in the range of £14 to £18 million if restrictions continue until 1 April. However, this will be partially mitigated by better than expected sales and profit in the seven months to 3 January, strong online sales, and ongoing benefits from cost reduction activities.

Nick Jones, chief executive of Joules, said: “We are pleased with the continued strong performance delivered across our digital channels during the Christmas trading period and are encouraged by the increasing customer awareness of, and demand for, the Joules brand. This has been supported by our Friends of Joules digital marketplace which added a great range of products and gifting options for customers throughout the Christmas trading period.

Whilst the latest round of restrictions on store retail across the UK present a further challenge for the retail sector as we enter 2021, we remain very confident that Joules, as a highly relevant, digital-led brand with an engaged and growing customer base and healthy balance sheet, is well positioned to navigate these challenges. As a result, we remain as excited as ever by our long-term growth prospects.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >