Joules half year revenue rushes past £100 million

 

Revenue at premium lifestyle brand Joules has gone past the £100 million mark during its first half of the financial year.

The retailer was originally established as Joule and Sons and was taken over by Tom Joule in 1989 selling clothing at equestrian events and was rebranded Joules in 1994. The first store was opened in Market Harborough in 2000 where the company has its headquarters. As of May 2018, the brand had 123 stores in the UK and Republic of Ireland. During 2019 the brand will celebrate its 30th Birthday, marking three decades of delivering fun, quality clothing.

Joules continues to exhibit at major equestrian events and in 2018 won Best Trade Stand and Best in Show for its engaging retail space at the Land Rover Burghley Horse Trials. Joule is also owner of MHS King Joules, ridden by Oliver Townend.

The latest financial results confirmed its revenue for the 26 weeks to 25 November 2018 totalled £113.1m, up from £96.2m in the same period in 2017.

CEO Colin Porter commented: “Joules has delivered another strong performance in the first half of year. As previously reported, this outcome is ahead of our initial expectations for the Period and has been achieved despite challenging trading conditions.The business’s success during this first half of the year is testament to the strength of our distinctive brand and the efforts of our fantastic team. We continue to benefit from a well-invested and flexible ‘total retail’ model in the UK, which enables us to respond and adapt to shifting customer preferences. We have an outstanding brand, good momentum and a growing customer base and we look forward to the second half of the financial year with confidence.”