Fall in sales isn't all bad news for Joules
By Sarah Wood | 23rd September 2020
Fashion retailer Joules saw a fall in first quarter sales as a result of lockdown, but trading was still ahead of expectations.
In the 13 weeks to 30th August, sales at Joules, which has stores in Cheltenham, Cirencester and Gloucester Quays, fell 18 per cent to £39.6 million.
The chain carried out a phased reopening of its stores from 15th June. All 128 stores has reopened by the start of August, with Cheltenham being one of the last to reopen.
Sales through Joules' own online channels surged by 63 per cent in the first quarter, while total online sales including third parties were up 45 per cent, as a result of both increased customer traffic and improved conversion rates.
In-store sales were down 49 per cent, but Joules said they have performed well since reopening. Wholesale sales were down 59 per cent, as many of the retailer's wholesale partners' stores remained closed.
Joules said it was encouraged by performance and is confident that it will be able to adapt to changing customer behaviour, despite the uncertainty of the coming months, heading into the Christmas trading season.
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