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Joules sales up 21% as store growth continues

Joules has recorded revenue increased by 21% to £96.3m for the year to May 25, 2014, and profit before tax and exceptional items was up 23.3% to £5.1m.

Retail sales from own stores increased 36%. Joules opened 19 stores during the period, and a further 14 stores since the year-end, taking the total to 99 stores. The company also installed a new EPoS system in stores and a new warehouse management system to accommodate additional volumes.

Ecommerce and catalogue sales increased 36% due to ecommerce investments and a new click-and-collect proposition. Wholesale sales were up 5%.

International sales were up by 44% and are up a further 74% in the year to date, driven by strong performance in Germany and the US.

Tom Joule, founder and chief executive, said: “This was an exceptional period for the business as we continued to deliver strong progress against our strategy of developing Joules as an international lifestyle brand.

“We remain resolutely focused on carefully growing Joules in the UK and internationally, while ensuring the brand remains loved by existing customers and attracting new ones. This has resulted in strong growth across all of the brand’s distribution channels. The brand continues to build momentum in the UK and enjoys a positive early reaction in international markets, underpinned by the quality of our products. We remain excited about the growth opportunities across our markets.”


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