Joules grows first-half sales across all channels
Joules increased ecommerce sales by 30.3% and store sales by 11.2% during the first half of its financial year to 27 November, while wholesale sales grew by 17.1% compared to the same period last year.
International revenue increased 39.3% during the first half and now represents 10.6% of group revenue. Group revenue as a whole rose by 16.2% to £81.4m wile underlying profit before tax grew 19.9% to £7.5m.
Underlying EBITDA increased by 19.6% year-on-year to £10.9m as EBITDA margin grew by 40 basis points to 13.4%. The British lifestyle brand’s active customer base grew 30% to 922,000.
Retail sales over the seven weeks to 8 January were up 22.8% on the previous year.
Colin Porter, Chief Executive Officer, commented:
“Joules has continued to perform well during the first half of the financial year with strong growth delivered across the brand’s distribution channels and target markets. This significant progress reflects the quality and design of our products and the growing demand for the Joules brand, both in the UK and internationally.
Group trading over the Christmas period and in the second half of the year to date has been strong and in line with expectations. The Board remains confident in the brand’s continued development both in the UK and internationally.”