Joules has posted an increase in full-year sales just months after the fashion and home retailer listed on the London Stock Exchange.

In its first trading update since floating on AIM, Joules said group revenues advanced 12.7% to £131.3m in the 52 weeks to May 29.

Retail sales increased 11% to £93.7m during the period, while its wholesale division posted a 17.6% jump in sales to £37.2m.

Joules said UK sales climbed 11.6% to £118.1m compared with the previous year.

Its international business also delivered growth, as sales surged 24.7% to £13.2m. The retailer revealed that overseas sales now represent just over 10% of group revenue.

Joules said its preliminary results are poised to be “in line with management expectations” when it unveils the figures on September 7.

“We have a clear growth strategy of increasing customer value, rolling out UK stores, accelerating international growth and delivering product extensions”

Colin Porter, Joules

Joules boss Colin Porter said: “This has been a year of great progress in further developing Joules as a fun, family, ‘time-off’ lifestyle brand across multiple sales channels both in the UK and internationally.

“We have a clear growth strategy of increasing customer value, rolling out UK stores, accelerating international growth and delivering product extensions.

“We remain confident in continuing to deliver further growth as a listed company.”

Joules made its stock market debut last month, listing on AIM with a share price of 160p – valuing the retailer at £140m.

Its share price rocketed by nearly a quarter on the first day of trading, surging to 195p. 

 

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