Joules’ sparkle reflects H1 omnichannel success, international growth
Joules Group can do no wrong, it seems. The “premium lifestyle brand with an authentic British heritage” saw its domestic and international sales fly and profits rocket in H1, with its womenswear a big feature of that success.
In the 26 weeks to November 26, group revenue jumped 18.2% to £96.2m as retail revenues in the six months rose 16.2%. Christmas period sales alone also rose 19.2%.
Both digital (up 19.7%) and physical stores (up 14.2%) showed Joules has mastered omnichannel. Its active customer base also rose 18% in the half to 1.09m.
Wholesale also surged 23%, or up 20.6% currency neutral, with strong performances in the UK, Germany and the US, it said.
Internationally, revenue saw a 26.4% jump with overseas business now accounting for 11.3% of the group’s total.
CEO Colin Porter, who described the business as doing “very well”, said the group’s H1 performance was driven by further rises across all product categories with a particularly strong season in core womenswear, with outerwear, dresses and tops all proving popular. Further expansion of accessories, footwear and kidswear also contributed.
And earnings? If anything, even more impressive, with core profit (ebitda) leaping 22.5% to £13.3m and pre-tax profit up 22.8% to £8.3m.
The company now operates 118 stores in the UK and Ireland and is available in 1,500 stores in the UK, US, Germany, France and other European markets.
Stockists include John Lewis, Next, Dillards and Nordstrom, with the latter increasing its product range listings in response to demand for the brand. Dillards, meanwhile, is launching womenswear for the S/S 18 season after a successful kidswear introduction.
With Joules now managing its own New York-based sales and marketing team as of S/S 18 orders, it will give it “greater control over the growth of the brand within North America,” it noted.
So expect further expansion across channels, product categories (Joules is planning more range extensions with the recent activewear launch the first of many) and target markets this year and beyond.