Lifestyle brand Joules has reported a 3.1% increase in half-year sales attributed to a “disciplined” approach to promotional activity and “strong” e-commerce growth, despite it facing a “challenging” trading environment.
Although wholesale revenues decreased by 3.8%, international revenues increased by 17% compared to 15.8% for the first half of last year. The group also credited its growing international success to its “strong” e-commerce market.
Joules acknowledged its challenging September period, but in the last two months said it saw “positive trading momentum” as revenues increased by 9%, resulting in the group opening four new stores before Christmas as well as growing online presence with the launch of ‘Friends of Joules’ – a digital marketplace for third-party sellers to sell their complementary products on its website.
Commenting on the results, CEO Nick Jones, said: “Joules has delivered further profitable growth during the period despite the continued challenging trading environment.
“This performance again reflects the appeal of the brand, the flexibility of our ‘Total Retail’ model and the hard work and skill of our team who have not only helped deliver growth in this tougher climate but have also launched innovative new initiatives like ‘Friends of Joules’ that create future growth opportunities.
He added: “Since joining the business in September, I have been struck by the exceptional strength of the Joules brand as well as its clear potential for growth across channels, markets and product categories.
“We continue to invest in our proposition to meet changing customer expectations in a scalable and profitable way and, with positive momentum across both digital and physical channels, we are well placed as we enter the important Christmas trading period.”