Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Joules to record profits leap and denies sale of stake

Lifestyle brand and retailer Joules has delivered a 27% like-for-like sales increase in year to April, according to founder Tom Joule.

Tom Joule also denied that he was planning to sell a stake in the business to fund growth.

According to reports Joules, which has 46 stores including four franchise outlets and 10 concessions, also plans to open 10 new stores before January in locations including Witney in Oxfordshire and Edinburgh.

Joule said: “What you get for your money, for the quality of product, is incredible value. And I think people have spotted that in difficult times they can buy, wear, wash and pass down from one generation to another.”

Earlier this year it was reported that Joules has appointed investment banking group Rothschild to advise on its growth and investigate the potential sale of a minority stake.

Joule said: “I can categorically deny that I plan at this point to sell a minority stake.”

For the year to 30 May 2010, Joules posted pre-tax profits of £4.86m, compared with £2.48m over a 16-month period previously.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.