Joules says a multichannel strategy to grow customer loyalty at home and in international markets delivered a double-digital hike in its latest financial year, both online and globally.
The lifestyle brand, a Top15 retailer in IRUK Top500 research, reports an online group revenue of £49.8m in its full-year to June 25. That’s up by 28% on the same time last year and now representing 38% of retail revenue. Its active database is up by 23% to 1.5m customers.
International sales grew by 40% in constant currency terms to 13% of group revenue. Joules says that its global strategy focused on wholesale distribution in the US and Germany, supported by dedicated websites in each market. During the year the group took direct control of its UK stockist accounts via its New York sales and marketing team, which resulted in solidifying its position abroad.
Paul Hickman, analyst at Edison Investment Research, comments:“Joules has grown pre-tax profit by a massive 28.5% to £13.0m, cleanly beating consensus expectations of £12.6m. Earnings per share grew as steeply to 11.8p, also beating analysts’ forecasts of 11.2p. Joules has a robust multi-channel strategy with compelling international opportunity, an unborrowed balance sheet and upgrade potential. Its developing tendency to outperform expectations justify the premium."
Image: screenshot of Joules’ website