The upmarket clothing brand grew annual revenue by 18.4 per cent to £185.9million as it opened 15 new stores in the UK and Ireland, while online Business made up over a third of retail sales.
Chief executive Colin Porter said “Our multichannel approach and ‘buy now, wear now’ product proposition has enabled the group to deliver a performance ahead of our initial expectations, despite widely reported challenges in the sector.”
That proposition, having clothing available whatever the weather, had resonated with shoppers. Its Golightly waterproof parka was among the big sellers.
He added:“We have made excellent progress against our strategy of further developing the brand in the UK and target international markets and we remain confident of continued growth and expansion of the Joules brand.”
He said: “This performance is testament to the strength and appeal of the brand and our distinctive products. We remain confident of continued growth and expansion.”
Shares rose 17½p to 346½p as Joules anticipates profits higher than analysts predicted.
“We continue to see Joules as a core holding within UK clothing retail,” analysts concluded.
Source : EXPRESS