Lifestyle brand and retailer Joules achieved a surge in sales over Christmas on the back of a strong product offer and an uplift in multichannel shoppers.
Joules reported total like-for-like sales rose 25% while like-for-likes in its retail division were up 16% in the nine weeks to January 5.
The retailer said margins grew significantly as it reduced its level of discounting and delayed the start of its end-of-season Sale.
Joules chief executive Tom Joule said: “We believe that we have the strength in our brand to enable us to hold a firm line on discounting, which has helped our margin and that of our wholesale partners. Our wholesale partners are key to our business and this is demonstrated by the growing numbers of stockists, confirming that our approach and product are very relevant to their own customers and well as ours.”
Joules managing director Colin Porter added: “The business further attributes our positive performance to our high level of consumer engagement, relevance in terms of upbeat British product offer, a strong multichannel approach, the introduction of click-and-collect and the steady international expansion in the US, Germany and Asia.”
The retailer said its gross turnover over the past 12 months hit £100m. In November, private equity firm Lloyds Development Capital invested £22m in the business to expand Joules’ presence internationally and in the homewares market.
No comments yet