Online and offline help Joules to fast growth; Yours launches 130th store
Joules said sales growth both online and offline helped to lift retail sales in the first half of its financial year.
In a pre-close trading update, the British lifestyle brand, a Top150 retailer in IRUK Top500 research
, reported group revenue of £96.2m in the six months to November 26, 18.2% up on the same time last year. Retail revenue of £65.9m was up by 16.2% on last time. This was driven, said the company, by "good growth across stores and ecommerce".
Chief executive Colin Porter said: "The Joules brand has performed well in the first half of FY18, delivering further expansion across markets, channels and product categories. The group's performance reflects the growing appeal of the Joules brand amongst both new and existing customers across our target markets.
"We look forward with confidence to the second half of the financial year, underpinned by the strength of the Joules brand and our collections. Whilst trading conditions will remain challenging, we have seen good growth in our wholesale order book for Spring/Summer 18 and are well positioned for the Christmas trading period."
The retailer opened a net 10 new stores during the period. Wholesale revenue grew by 23%.
• Plus sized omnichannel retailer Yours has opened its 130th store.
The opening, in Bromley, comes after sales grew to £41m in the six months to July 30, 22% up on the same time in the previous year. Pre-tax profits grew to £5m at the same time. During the period, Yours, a Top100 retailer in IRUK Top500 research, opened 16 new stores, launched a German ecommerce site, launched a new app and added reserve in-store functionality, enabling customers to reserve items online for collection within an hour.
Resh Dorka, chief operating officer of Yours, said: “Fashion is for everyone, regardless of size, and we are delighted that awareness of the Yours brand is growing and our products continue to resonate with both women and men.
“Our stores are an integral part of our business as spaces to showcase our products and offer the excellent in-store service we know our customers really value. Our strong first-half performance demonstrates the excellent momentum in the business and the increasing recognition of Yours as a go-to destination for great fitting, excellent value, fashionable plus size products.”