Joules reports strong full year revenue growth
Lifestyle clothing brand Joules has reported a strong increase in sales for the year to 29 May and said its full-year results are likely to meet management expectations.
Group revenue climbed by 12.7% to £131.3 million with retail sales rising by 11% to £93.7 million. Wholesale sales increased by 17.6% to £37.2 million.
Colin Porter, Joules chief executive, said: “This has been a year of great progress in further developing Joules as a fun, family, ‘time-off’ lifestyle brand across multiple sales channels both in the UK and internationally.”
UK sales rose by 11.6% to £118.1 million while international sales increased by 24.7% to £13.2 million. International sales now represent just over 10% of group revenue.
The news follows Joules’ flotation on the Aim market of the London Stock Exchange earlier this year.
Porter added: “We have a clear growth strategy of increasing customer value; rolling-out UK stores; accelerating international growth; and delivering product extensions. The energy, skill and commitment of the Joules team and the unique design of our products underpins this strategy. We remain confident in continuing to deliver further growth as a listed company.”
