British lifestyle brand Joules has confirmed Group revenues increased by 19.6 per cent year-on-year to £157 million in its latest trading update covering the 52-week period to 28 May 2017.
The brand attributes the growth to its expansion in the UK and international markets, its growing customer base, and the positive customer responses to both its new and core ranges across product categories throughout the Period.
Retail revenue increased by approximately 19.4 per cent on the prior year, a performance driven by growth in the ecommerce channel as well as continued development across the Group’s UK and ROI store estate, where it opened 11 new stores in the Period.
In line with the Board’s expectations, the wholesale segment was up by approximately 20.3 per cent on the prior year driven by growth in the spring/summer order book from both UK and international wholesale customers.
Commenting on the update, Joules’ chief executive officer, says, “The appeal and strength of the Joules brand continues to resonate with our loyal and growing customer base. The brand’s growth continued in the second half of the financial year, building on the strong performance in H1. As a result of the brand’s momentum across channels and product categories, the Board anticipates reporting profits for the full year comfortably ahead of its previous expectations.
“Our focus on our brand and our customers, as well as our steadfast commitment to product quality, remain the bedrock for the Group’s growth and success,” he continues. “Underpinned by these strengths, the Board has confidence that Joules’ momentum will continue into FY18, despite the uncertain macro-economic outlook. This confidence is supported by the growth in our customer base and our exciting new store opening plans, as well as a robust autumn/winter wholesale order-book both in the UK and internationally.”