Joules joins list of Christmas winners as sales soar almost 20%
Joules showed us on Tuesday that not all UK retailers had it tough at Christmas as the premium lifestyle fashion retailer said that the seven weeks to January 7 saw a “strong performance”.
In fact, its total retail sales rose an impressive 19.2% year-on-year, driven by “continued growth across both the store and e-commerce channels.”
And it doesn’t seem to have taken a hit to its margins, unlike some of its retail peers, with the firm saying that the retail gross margin is expected to be “in line with the prior year as we maintained our disciplined and selective approach to promotional activity."
CEO Colin Porter said the performance was a “testament to the strength of the Joules brand, unique product proposition and customer engagement.”
What seemed to be important over the Christmas period was, as it mentioned, that both its stores and its e-tail ops were buoyant. A number of retailers have turned in poor or not-especially-strong figures even though their webstores saw healthy turnover.
What caused problems for so many of them was that traffic to physical stores faltered and even buoyant web ops couldn’t make up the shortfall given how much smaller most companies’ e-tail businesses are.
But Joules appears to be getting it right on all levels and maintaining store traffic. That is certainly helping it as it moves outside of its UK domestic market and expands in the US, Germany, France and other European markets.
The company currently has 118 stores in the UK and Republic of Ireland, a significant online business and 1,500 wholesale stockists including John Lewis, Next Label, Nordstrom and Dillards.
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