Belfast Telegraph

UK Website Of The Year

Middle class favourite Joules sees revenues boost from its German fans

Published 21/06/2016

Sales of Joules have risen in Germany and America
Sales of Joules have risen in Germany and America

Fashion brand Joules has posted a 12.7% rise in annual revenues to £131.3 million as the newly-listed retailer benefited from a sharp rise in international sales.

Overseas turnover increased 24.7% to £13.2 million, with international now representing over 10% of overall group sales. Joules has a strong presence in Germany and North America.

Chief executive Colin Porter hailed Joules's "great progress" and said further growth was on the way.

He said: "This has been a year of great progress in further developing Joules as a fun, family, 'time-off' lifestyle brand across multiple sales channels both in the UK and internationally.

"We have a clear growth strategy of increasing customer value, rolling-out UK stores, accelerating international growth, and delivering product extensions."

Retail sales rose 11% to £93.7 million and wholesale revenue was up 17.6% to £37.2 million.

The company floated on London's junior market in May and saw founder Tom Joule pocket £40 million as he trimmed his 80% stake to below 50%. Mr Joule founded the fashion retailer in 1989 and today it operates 98 stores in the UK and Ireland.

Read More

From Belfast Telegraph