Fashion retailer Joules has revealed soaring profits in its “very exciting” first year after going public.
In the 52 weeks to May 28th underlying profits jumped by 34% to £10.1 million, while underlying EBITDA increased by 25.3%.
Sales across all channels saw similar growth, with group sales rising 19.6% to £157 million. Active customers grew 14% to 907,000 alongside 11 store openings, which drove a 17.5% rise in store sales.
Ecommerce sales shot up 29.4%, meaning they now account for almost a third of the retailer’s total sales.
Colin Porter, chief executive said: “The strong progress delivered during the year was again underpinned by the group’s steadfast focus on its growing and loyal customer base, product quality and delivering engaging experiences across all channels.”
Acknowledging the “uncertain macro-economic outlook”, Mr Porter said he was confident the retailer was on track to continue to grow throughout the next year.
