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Clothing & ShoesEconomyHigh Street

Joules 18% sales boost defies high street blues

Clothing retailer Joules has announced a rise in revenue for the year up to May 27 of 18% on figures for the same period last year.

Retail revenues rose 16%, which the company says was “driven by a very good e-commerce sales performance as well as continued growth across the group’s UK and Irish store estate”.

Along with the rises in revenue a company statement said: “Underlying profit before tax for the period will be marginally ahead of analyst expectations.”

Joules chief executive Colin Porter said: “This performance is testament to the strength and appeal of the Joules brand and our distinctive products.”

Joules is floating above many other sinking retailers such as New Look, M&S and House of Fraser with New Look having announced a CVA that will see stores exit leases early.

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