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Tuesday 15 October 2019

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Payments Awards 2019

Joules online sales up 58 per cent

Written by Hannah McGrath
23/07/2019

Revenues at Joules have risen 17.2 per cent over the last year, driven by a 58 per cent growth in online sales.

Full year results for the women’s fashion retailer showed group revenue had climbed to £218 million, up from £185.9 million in 2018, with the group’s ‘total retail’ omnichannel strategy continuing to bear fruit.

The strong performance of e-commerce operations was seen in expansion in international markets, primarily the US and Germany, with sales from outside the UK growing by 43.5 per cent to represent 16.1 of group revenue – up from 13.1 per cent last year. E-commerce now represents approximately half 49.5 per cent of the group’s retail revenue.

Retail revenue, which includes e-commerce, stores and shows, increased by 22.7 per cent during the year to £159.1 million.

Joules has benefitted from retail concessions with Next and John Lewis. On a comparative basis, excluding the retail concession transition, retail revenue increased by approximately 10 per cent, with this underlying growth driven by e-commerce.

The total retail model aims to provide a seamless online/in-store experience, including services such as Click and Collect and Order-in-Store fulfilment options, easy in-store returns and exchanges for e-commerce orders.

The trading update stated: “Underlying growth from our owned e-commerce sites in the UK and internationally was very strong in the period, reflecting the impact of our customer acquisition and retention activity, improvements in our e-commerce platform as well as the sector-wide shift from physical retail to digital.”

Chief executive Colin Porter commented: “Joules has delivered another strong performance this year with growth across channels and product categories, both in the UK and internationally.

“These results in a challenging retail sector reflect the strength and appeal of the Joules brand, the flexibility of our ‘total retail’ model, and the success of our carefully managed product extension strategy.”


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