Joules delivers continued strong retail trading through Christmas period.
Joules, the premium British lifestyle brand, today updates on the Christmas trading performance of its retail business for the seven-week period to January 6, 2019 (the “Period”).
The Joules brand continued to perform well over the festive trading period with retail sales¹ increasing by 11.7% against the prior year on a comparable basis. This performance reflected growth across all of the brand’s product categories.
Joules delivered a particularly strong performance online with E-commerce representing almost half of total retail sales during the Period. This was driven by a good performance through Joules’ own digital channels as well as through concession partners’ websites and reflects the appeal of the Joules brand as well as the strength of the Group’s integrated and flexible ‘total retail’ model.
Retail performance during the Period supports the Board’s previously stated confidence in the Group achieving full year 2019 PBT in line with its expectations.
Colin Porter, Chief Executive Officer, commented: “I am pleased to update on a continued strong retail performance for Joules through the important festive trading period, which represents an improvement from the retail sales growth in the first half of the year². This good growth was achieved despite the ongoing backdrop of challenging sector trading conditions.
The Group’s performance was again underpinned by the strength of the Joules brand, our growing and loyal customer base, and the flexibility of our ‘total retail’ model which continues to enable Joules to adapt to changing customer shopping behaviours.”
Joules will announce its Interim Results for the 26-week period to November 25, 2018 on Wednesday January 23, 2019.
¹ Retail sales growth is calculated on a consistent basis year-on-year, based on retail sales including VAT and returns received, or anticipated, from sales in the Period. Retail sales in this statement include Stores and Ecommerce channels, both owned and concessions, but exclude the Shows channel. For comparative purposes the prior period has been restated to reflect retail concession partnerships previously reported in Wholesale.
² As previously announced, comparable Retail revenue increased by 10% in the first half of the year. Retail sales growth in the seven-week period was 24.0% excluding the prior year restatement for concessions, which was ahead of first half reported Retail revenue growth of 21.2%.