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Joules reports growth in sales and profit

Lifestyle clothing retailer Joules has seen its full year pre-tax profit before exceptional items rise by 36%.

GENERAL MERCHANDISE

Joules reports growth in sales and profit

In the 53 weeks ended 31 May 2015, total revenue grew by 22% to £117.1 million with UK revenue climbing by 17.5%. Retail sales from stores and e-commerce rose by 24% during the year.

EBITDA surged by 18% to £10.7 million and profit before tax and exceptional items increased to £5 million from £3.7 million in the previous year.

Joules said the retail growth was fuelled by 13 new stores opened during the period. The brand is due to open its landmark 100th store before Christmas.

Direct retail sales, which comprise e-commerce and catalogue, represented more than 34% of total retail sales as the company developed its e-commerce capabilities with the launch of a click and collect service in 2014. This month, Joules will re-launch its website as it looks to improve functionality, product displays and usability for customers.

Wholesale sales grew by 17.9%, with expansion in the UK driven through national multi-channel retailers such as John Lewis and Next as well as smaller, independent partners. 

International sales increased by 65% during the period, against growth of 44% in the previous year.

Tom Joule, founder, said: “I am delighted to report that we marked our 25th year with a record performance and another period of exceptional growth for the Joules brand. We continue to develop as a lifestyle brand across categories and distribution channels and have experienced fantastic momentum in our home market in the UK as well as international markets, where we are establishing the brand.”

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