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Gloucestershire Business News

Joules bucks high street trend with soaring sales

There is a new darling of the high street, in the form of quintessentially British fashion brand, Joules.

The company, which has stores in Cirencester, Cheltenham and Gloucester Quays, has continued to outpace its struggling high street rivals, as reported by Retail Gazette.

In the year ending 27th May, Joules saw year-on-year revenues jump 18.4 per cent to £185 million, with profits coming in slightly ahead of expectations at £12.6 million.

This was due to a 15.9 per cent rise in retail sales and a 24 per cent rise in wholesale sales, supported by improved margins due to fewer promotions and international sales.

Joules is one of the few fashion retailers currently able to reliably produce double digit sales growth while improving margins.

Punchline said: "While most of the high street is struggling, Joules has proved that the right products, combined with stores in the right locations, a good online offer and international growth mean that retail failure isn't inevitable in 2018."

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