Joules posts ‘robust’ performance despite difficult September

Market Harborough-based lifestyle brand Joules is continuing to perform robustly despite the challenging trading environment afflicting large parts of the UK retail sector, the company says.

In a trading update for the first half of the financial year to 31 May 2020, the firm posted a 3.1 per cent increase in its retail revenue and a 1.3 per cent in its total Group revenue, which now clocks in at £111.6 million, compared to the same period last year.

Joules says its strong retail performance is the result of a disciplined approach to promotional activity, strong e-commerce growth and continued growth in its active customer base.

Despite experiencing a tough September, the company has also seen its e-commerce revenue increase, in comparative terms, by 9.4 per cent.

The firm now says it is confident it will deliver growth through the second half of the year.

Nick Jones, chief executive officer, said: “Joules has delivered further profitable growth during the period despite the continued challenging trading environment. This performance again reflects the appeal of the brand, the flexibility of our ‘Total Retail’ model and the hard work and skill of our team who have not only helped deliver growth in this tougher climate but have also launched innovative new initiatives like ‘Friends of Joules’ that create future growth opportunities.

“Since joining the business in September, I have been struck by the exceptional strength of the Joules brand as well as its clear potential for growth across channels, markets and product categories.  We continue to invest in our proposition to meet changing customer expectations in a scalable and profitable way and, with positive momentum across both digital and physical channels, we are well placed as we enter the important Christmas trading period.”