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Profits rise at Joules
The lifestyle brand announces another set of strong financial results.

By Isabella Griffiths

6 September 2016

British lifestyle brand Joules has published another set of strong financial results, with group revenue having grown by 14.2 per cent to £131.3m in the 52 weeks ended 29 May. 
 
Retail sales increased by 12.8 per cent, with e-commerce sales up by 17.3 per cent following the re-launch of Joules.com in September last year. Store sales were also up by 13.1 per cent, supported by 10 new store openings in that period, while wholesale sales increased by 18.3 per cent, indicating a strong position of the brand in the UK and target markets worldwide. International revenue now represents 10.1 per cent of group revenue, while the Joules active customer base increased by 33 per cent to 824,000. 
 
“FY16 was a transformational year in the development and expansion of the Joules brand which included our successful admission to AIM in May. We have delivered strong growth across our retail and wholesale channels, significantly increasing profitability by effectively leveraging our operating cost base. Our active customer base and international sales have also grown impressively, all of which is great testament to the growing strength and appeal of Joules as a premium lifestyle brand,” says Colin Porter, CEO.
 
“Group trading to date in FY17 has been in line with expectations and early feedback on our spring/summer 17 ranges from our trade customers has been positive.  The group has a clear growth strategy, underpinned by the consistent quality and design of our products and the skill and commitment of our enterprising team. The Board remains confident in the brand’s long term development in the UK and internationally,” he adds. 
 
This story first appeared on wwb-online.co.uk


 
 
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