Joules enjoys strong first half sales growth
Lifestyle fashion brand Joules saw its first half revenue climb by 16.2% to £81.4 million as trade was boosted by new store openings, a growing customer base and the popularity of new and core ranges.
In the 26 weeks to 27 November, retail revenue increased by 15.8% to £56.7 million. During the period the retailer opened ten new stores.
Colin Porter, Joules chief executive, said: “The group has continued to perform well throughout the first half of the financial year delivering strong growth across all channels. This reflects the strong appeal and quality of our products as well as the appeal of the Joules brand to both new and existing customers.”
Wholesale revenue rose by 17.2% to £24.5 million. The brand continued to develop in international markets by expanding product ranges within key US wholesale accounts and launching kidswear in a new partnership with a US department store.
Porter added: “We look forward with confidence to the second half of the financial year and beyond, despite the uncertain macro-economic outlook. We have seen strong growth in our wholesale order book for Spring/Summer 17 and we are well positioned for the Christmas trading period.”
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