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Joules sales grow in strong first half

Joules sales increased 16.2% to £84.1m for the 26 weeks to 27 November compared to the previous year, while margin is expected to rise by around 100 basis points thanks to more full-price sales, enhanced distribution efficiencies and a good product mix in its international wholesale sales.

The lifestyle brand increased its retail revenue by 15.8% to £56.7m, driven by the opening of ten new stores during the period and growth in ecommerce.

Wholesale revenue also rose, increasing by 17.2% to £24.5m against the same period last year, thanks to strong autumn 16 wholesale sales.

Chief executive Colin Porter said the group performed well through its first half and is confident for the second half of the financial year, despite the uncertain macro-economic outlook.

“We have seen strong growth in our wholesale order book for spring 17 and we are well positioned for the Christmas trading period,” he said.

 

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