Joules returns to profit as online sales boom
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Joules, the Market Harborough-based lifestyle retailer, has seen revenues climb to almost £200m – boosted by a strong online performance.
For the year ending May 31, the firm saw ecommerce sales rise by 48% to £122m, while store and show sales dropped from £63.2m to £36.6m, reflecting the forced closure of none-essential retail stores and the cancellation of shows and events.
The firm returned to profit during the year, turning a loss of £24.8m in 2020 to a surplus of £2m this time around.
Nick Jones, chief executive officer of Joules, said: “As a result of the strength of the Joules brand and the increasing diversification of the group’s digitalled business model, we believe that the group is very well positioned to continue to deliver its ambitious growth plans.”