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Joules’ first-half revenue increases 18%

Published 12 December 2017

UK fashion retailer Joules has reported a 18.2% increase in its revenue as the company continued to expand in its target international markets.

In a pre-close update, the company revealed that revenue for the 26-week period to 26 November 2017 was £96.2m, compared to £81.4m for the same period last year.

Retail revenue increased by 16.2% to £65.9m due to better growth across both stores and e-commerce. 

The company opened 10 new stores across its different store formats during the period, strengthening its retail store presence.

Wholesale revenue increased by 23% to £30.1m and the company said it expects gross margin in the period to be in line with the first half of the prior year.

Joules CEO Colin Porter said: "The Joules brand has performed well in the first half of FY18, delivering further expansion across markets, channels and product categories.

“We look forward with confidence to the second half of the financial year, underpinned by the strength of the Joules brand and our collections. Whilst trading conditions will remain challenging, we have seen good growth in our wholesale order book for Spring/Summer 18 and are well positioned for the Christmas trading period."

Joules said it will update on Christmas trading on 9 January 2018 and will report interim results on 31 January. 

Joules is an international brand, available in the UK, US, Germany, France and other European markets. The company operates 118 stores in the UK and ROI across a range of location types.

It has a significant online business, and a wholesale business with more than 1,500 stockists globally including John Lewis, Next Label, Nordstrom and Dillards.

Image: A Joules shop in Kingston-upon-Thames. Photo: courtesy of Jim Linwood.