Joules returns to profit
By Matt Hall | 3rd August 2021
Retailer Joules has revealed a £6.1m in the year to May 30, compared to a loss of £3.9m the year prior.
Driven by a 48 per cent jump in online performance, the business said full year revenues climb to almost £199million.
It said e-commerce now accounts for 77 per cent of Joules' revenue, up from 56 per cent the year before.
With stores including those in Gloucester and Cheltenham closed for up to six months of the fiscal year, overall store sales declined to £36.6m from £63.3m the year before.
Joules chief executive Nick Jones said: "It is safe to say that FY21 was characterised by truly unprecedented trading conditions."
"Against this backdrop, the group delivered strong strategic progress, including growing our digital proposition, increasing our active customer base, and further diversifying as a leading lifestyle platform with the successful acquisition of Garden Trading and the continued expansion of Friends of Joules.
"At the centre of our growth strategy remains the strong Joules brand. During the year we continued to deliver on our brand's clear mission and purpose - to brighten our customers' lives and conduct business in a responsible way.
"As more and more consumers increasingly valued their leisure time spent outdoors and time doing the things they enjoy with the people they love, our brand has become increasingly relevant to a greater number of customers, reflected by brand health metrics reaching all-time highs.
"As we move into the new financial year, the continued success and growth of Friends of Joules and our strengthened position in the home, garden and outdoor sector means that the group now offers significantly more products and categories than ever before, therefore providing customers with greater choice and more reasons to shop with us."
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