Joules grows first half sales
Joules, the lifestyle fashion brand, has reported that first half revenue grew by 18.2%, or by 17.5% in constant currency, to £96.2 million.
In the 26 weeks to 26 November, retail revenue climbed by 16.2% to £65.9 million, driven by uplifts across both stores and online.
The company said the increase was a reflection of the brand’s growing customer base, which now stands at more than one million active customers, and the strong performance of its new and core collections.
Wholesale revenue increased in line with expectations by 23%, or by 20.6% in constant currency, to £30.1 million.
Colin Porter, Joules chief executive, said: “The Joules brand has performed well in the first half of FY18, delivering further expansion across markets, channels and product categories. The group’s performance reflects the growing appeal of the Joules brand amongst both new and existing customers across our target markets.”
During the period, Joules opened a net 10 new stores across different formats.
Porter added: “We look forward with confidence to the second half of the financial year, underpinned by the strength of the Joules brand and our collections. 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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