Profits soar at Joules
By Sarah Wood | 23rd July 2019
Fashion retailer Joules has bucked the high street trend, recording a rise in pre-tax profits of £19.4 million.
The quintessentially British brand, which has stores in Cirencester, Cheltenham and Gloucester Quays, saw profits for the year to 31st May rise to £15.5 million, as reported by Retail Gazette.
Sales rose 17.2 per cent to £218 million, boosted by a 43.5 per cent growth in international sales, which made up 16.1 per cent of total sales during the period.
UK retail sales were up 23 per cent at £159.1 million. Online sales accounted for 50 per cent of overall retail sales. Wholesale sales grew three per cent to £57.1 million.
Joules will now focus on expanding in the US.
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