Joules posts strong first half growth
Fashion lifestyle brand Joules increased its underlying pre-tax profit by 24.3% to £9.3 million in the first half of its financial year.
In the six months to 26 November, statutory pre-tax profit was up 22.8% to £8.3 million while underlying EBITDA was up 22.5%.
Group revenue rose by 18.2% to £96.2 million with retail revenue up 16.2% in the period. Online sales climbed by 19.7% and store sales were up 14.2%
Meanwhile, international revenue increased by 26.4% and now represents 11.3% of group revenue,
Joules said the performance was driven by growth across all product categories with a particularly strong outcome in the core womenswear category, where outerwear, dresses and tops all proved particularly popular.
Retail sales over the seven weeks to 7 January rose by 19.2% year-on-year.
Colin Porter, Joules chief executive, said: ” Joules’ brand, with its distinct heritage and values, underpins the Group’s exciting growth potential as we continue to develop as a British lifestyle brand with broad international appeal. Whilst trading conditions look set to remain challenging across the sector, with our differentiated brand, unique product offer, loyal and growing customer base, exceptional team and well-invested infrastructure, Joules is well positioned for continued progress and expansion.”
Joules operates 118 stores in the UK and Republic of Ireland.
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