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Joules festive revenues rise

Lifestyle brand and retailer Joules grew sales by almost 25% over the festive period as the business pushed back the start of its Sale.

Revenues in the nine weeks to January 5 increased by 24.5% compared to the previous year and like-for-like retail sales also grew by 16.2%.

During the period margins rose, boosted by reduced promotional activity and the delayed start of the end of season Sale which began on December 24 compared to December 19 last year. The company also reported strong sales of its gifting products including accessories and homewares as well as its clothing.

Chief executive Tom Joule said: “We believe that we have the strength in our brand to enable us to hold a firm line on discounting which has helped our margin and that of our wholesale partners. Our wholesale partners are key to our business and this is demonstrated by the growing numbers of stockists confirming that our approach and product are very relevant to their own customers and well as ours.”

In November Joules revealed it had secured a £22m investment to support its expansion from LDC, a private equity arm of Lloyds Banking Group.

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