Skip navigation

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."

Subscribe to Punchline

Related Articles

Two-storey rooftop restaurant plans revealed Image

Two-storey rooftop restaurant plans revealed

Pictures have been released revealing ambitious plans to convert a major county building into a two-storey rooftop restaurant.

Well-known Cheltenham bar set to re-open Image

Well-known Cheltenham bar set to re-open

Back in March, the nightlife in Cheltenham suffered a blow with the sudden closure of a popular town centre party bar.

Warning: Major road upgrade on the way for Birdlip Image

Warning: Major road upgrade on the way for Birdlip

A popular route into Birdlip is being resurfaced from 30th August.

Victory! Common sense prevails as parking charges are dropped Image

Victory! Common sense prevails as parking charges are dropped

Controversial plans to impose new car parking charges in the Stroud district have today been scrapped.

Copyright 2018 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.