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International and online sales fuel strong growth at Joules

Sales and profits have continued to rise at British lifestyle retailer Joules, driven by strong international and ecommerce growth.

Joules spring 17

Joules spring 17

Group revenue rose 19.6% year on year to £157m for the 52 weeks to 28 May (18.6% on a constant-currency basis). Underlying EBITDA was up 25.3% to £16.9m.

Retail sales increased 19.4%, with ecommerce sales up 29.4%. Joules said online sales now comprise 34.8% of total retail sales.

International sales performed strongly, rising 36.5%, meaning they now make up 11.5% of group revenue. Wholesale revenue was also up, rising 20.3%, which the business said reflected the growing appeal of the Joules brand both in the UK and internationally.

Joules enjoyed a rise in its active customer base, with the number of shoppers growing by 14% during the period to 907,000.

Chief executive Colin Porter was optimistic about the coming months, despite the current unstable retail environment.

“The board remains confident that the group’s momentum will continue into FY18, despite the uncertain macro-economic outlook,” he said.

“This confidence is supported by the growth in our customer base, our exciting new store opening plans, a robust autumn/winter wholesale order-book both in the UK and internationally, and positive early feedback on our spring/summer 2018 ranges from wholesale customers.”

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