Joules has reported total sales increased 11.3% for the six weeks ended January 3, compared with the previous year, thanks to good performance from scarves, ponchos and wellies.
The British lifestyle brand opened 12 new stores during the period, including its 100th store in Dublin in November, and relaunched its website in September. Total retail sales were up by 13.1%.
Owner and founder Tom Joule told The Independent: “We’ve invested a lot in fast turnarounds. We look at things slightly differently to the market and offer clothes for now – to be worn today.”
Chief executive Colin Porter said the heavy rain over the past few weeks had spurred sales of wellies.
Joule also added that the rumoured stock market listing is still on the cards but not for a few years. Analysts suggest the company could be worth more than £140m.
“We haven’t got a timeline and we don’t have a gun to our head, but to say we haven’t looked at the options would not be true. We brought them [private equity firm LDC, which invested £22m in Nov 2013] in to help the business and they’re looking to get out – but we have to look at the stability for the long term for Joule,” he told the newspaper.