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Joules half-year revenues up 18.2%

Lauretta Roberts
12 December 2017

British premium fashion and lifestyle brand Joules has announced an 18.2% growth in the 26-week period to 26 November and says its customer base has now exceeded 1m active customers.

The brand achieved revenues of £96.2m during the period and retail revenues were up by 16.2% to £65.9m driven by good growth in stores and online. Wholesale revenue increased in line with expectations by 23% to £30.1m, it revealed in a pre-close trading statement.

"The Joules brand has performed well in the first half of FY18, delivering further expansion across markets, channels and product categories. The Group's performance reflects the growing appeal of the Joules brand amongst both new and existing customers across our target markets," said CEO Colin Porter.

"We look forward with confidence to the second half of the financial year, underpinned by the strength of the Joules brand and our collections. Whilst trading conditions will remain challenging, we have seen good growth in our wholesale order book for Spring/Summer 18 and are well positioned for the Christmas trading period," Porter added.

Established 30 years ago by Tom Joule, Joules operates 118 stores in the UK and ROI across a range of location types and has more than 1,500 wholesale stockists worldwide including John Lewis, Next Label, Nordstrom and Dillards. The business, which floated on AIM last year, says it will update the market on Christmas trading on 9 January.

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