Joules reports 18 percent increase in H1 revenue

Providing a trading update covering the 26-week period to November 26, 2017, Joules said, revenue for the period increased by 18.2 percent or 17.5 percent in constant currency to 96.2 million pounds (129 million dollars), reflecting the brand’s expansion, growing customer base, which is now at more than one million active customers, and the strong performance of both new and core collections.

Commenting on the company’s trading, Joules CEO Colin Porter, said in a media statement: “The Joules brand has performed well in the first half of FY18, delivering further expansion across markets, channels and product categories. 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 H1 retail revenues rise 16.2 percent

The company added that its retail revenue increased by 16.2 percent to 65.9 million pounds (88 million dollars), driven by good growth across both stores and ecommerce. The group increased its retail store presence, in line with plans, with the opening of a net 10 new stores across its different store formats during the period under review.

The company’s wholesale revenue increased by 23 percent or 20.6 percent in constant currency to 30.1 million pounds (40 million dollars), reflecting the good growth in the autumn/winter 2017 wholesale order book.

Gross margin in the period, the company added, is anticipated to be in line with the first half of the prior year, reflecting continued discipline in promotional activity and an improvement in international wholesale gross margin.

Picture:Joules website