Joules

Joules clothing

Joules sees revenues rise

Staff at luxury clothing brand Joules are celebrating a stellar first year on the stock market after seeing revenues soar by 19.6% over the past year.

Market Harborough-based Joules bucked woes seen among its rival fashion retailers last year, notching up a 19.6% hike in revenues to £157m in the year to 28 May.

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.”

Joules, which listed on the AIM market last year, said the stronger than forecast performance was also set to continue into the new financial year ahead of more store openings and product launches.

Porter added: “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 opened 11 new stores over the year, taking its total in the UK and Ireland to 108.