Joules Group plc, a British premium lifestyle brand, today announces a trading update for the 52 week period ended 29 May 2016.
Unaudited Group revenue of £131.3 million increased by 12.7% compared to the prior period (53 weeks to 31 May 2015: £116.4 million). Against the comparable 52 week prior period, Unaudited Group revenue increased by 14.2%.
Retail sales for the period increased 11.0% to £93.7 million (2015 - 53 weeks: £84.4 million) and Wholesale sales increased 17.6% to £37.2 million (2015 - 53 weeks: £31.6 million). On a geographic basis, UK sales increased 11.6% to £118.1 million of Group revenue and International sales increased 24.7% to £13.2 million of Group revenue. International now represents just over 10% of Group revenue.
Results are anticipated to be in line with management expectations.
The Group will make its preliminary results announcement for the 52 weeks ending 29 May 2016 on 7 September 2016.
Colin Porter, CEO, commented: “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. The energy, skill and commitment of the Joules team and the unique design of our products underpins this strategy. We remain confident in continuing to deliver further growth as a listed company.”
Note: Retail sales increased 12.8% and Wholesale sales increased 18.3% against the comparable 52 week prior period.
Joules Group plc | Tel: +44 (0) 1858 435 255
Colin Porter, CEO
Marc Dench, CFO
Peel Hunt LLP, Nominated Advisor | Tel: +44 (0) 20 7418 8900
Liberum Capital Limited | Tel: +44 (0) 20 3100 2000
Hudson Sandler | Tel: +44 (0) 20 7796 4133
Joules is a British, premium lifestyle brand. The Company designs and sells Joules branded clothing, footwear, accessories and homeware and operates a balanced multi-channel proposition which encompasses retail (stores and e-commerce), wholesale and other smaller channels such as country shows and events and licensing.
Joules currently* has 100 UK and ROI stores, a customer database of approximately 2 million customers, an established e-commerce platform and a fast growing international presence. Joules is also a top selling wholesale brand in major UK retailers such as John Lewis and Next Label and, in 2015, won “Fashion Retail Business of the Year” in the £30-£100m turnover category at the Drapers Awards. The Joules brand is at the heart of the business and encompasses values of “time-off”, heritage, countryside, Britishness, family and fun. These brand values are reflected in the product designs, which are recognisable for their distinctive colours, prints, detail and quality.
*Figures are approximate as at 29 May 2016