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Joules celebrates ‘strong’ year

British lifestyle brand Joules has reported a revenue uplift of 17.2% year on year to £218m for the 52 weeks to 26 May.

International revenue increased by 43.5% following continued expansion in its target markets including the US and Germany, and now represents 16.1% of the group’s total revenue.

Joules’ underlying profit before tax was £15.5m – up 19.4% from £13m for the 2017/18 financial year.

The group said womenswear performed particularly well, as did footwear and accessories. Ecommerce also performed well and now accounts for 58% of its retail revenue.

CEO Colin Porter said: “Joules has delivered another strong performance this year, with growth across channels and product categories, both in the UK and internationally.

“These results in a challenging retail sector reflect the strength and appeal of the Joules brand, the flexibility of our ‘Total Retail’ model, and the success of our carefully managed product extension strategy.

“We are pleased with the group’s performance to date in the early stages of our new financial year, with trading in line with our expectations.

“Looking ahead, whilst the consumer retail environment is anticipated to remain challenging, particularly in the UK, the board and I believe that Joules remains well positioned for continued success in the UK and our target international markets.”

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