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Joules sales up 14.2% in transformational year

Lauretta Roberts
07 December 2016

British fashion and lifestyle brand Joules has posted sales up 14.2% to £131.3m, and underlying pre-tax profits up 41.5% to £7.5m, in what it has described as "a transformational year" for the business.

In the year to 29 May 2016 its retail sales were up 12.8% while online sales jumped by 17.3%, following the relaunch of in September 2015. Store sales were up 13.1%, which was supported by the opening of 10 new stores during the 12-month period, and its international business now counts for 10.1% of total sales.

The Market Harborough-based group, which operates 97 stores selling quintessentially British fashion, accessories and lifestyle products for men, women and kids, successfully floated on the AIM market in May.

Chief executive Colin Porter said its performance during the year had been strong on all fronts. "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," Porter said.

Trading in the financial year 2017 had been in line with expectations so far, he added, and early customer feedback to SS17 ranges had been positive.

Joules was founded 25 years ago when Tom Joule began selling clothes at various outdoor events around the UK. Today, as well as its 97 stores across the UK and Ireland, it is found in multi-brand retailers such as John Lewis and Next Label. It also has wholesale accounts and dedicated websites for the US and German markets.

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