Joules reports ‘strong’ first year on AIM
Joules, the Market Harborough-based clothing retailer, it set to post “strong” full-year results it revealed this morning (6 June).
The firm’s first full financial year since flotation will see revenues rise by 19.6% to £157m. Profits are forecast to be ahead of expectations.
Joule says the impressive showing is a reflection of the brand’s expansion in the UK and international markets, its growing customer base, and the positive customer responses to both new and core ranges across product categories over the last year.
Colin Porter, chief executive officer, said: “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. 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.”
Joules will announce its preliminary results for the 52-weeks to 28 May 2017 on Wednesday 26 July.