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Joules Group plc (JOUL)

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Tuesday 08 January, 2019

Joules Group plc

Christmas Trading Update

RNS Number : 4337M
Joules Group plc
08 January 2019
 

Joules Group PLC

("Joules" or the "Group")

Christmas Trading Update for the seven-week period to 6 January 2019

8 January 2019

 

 

Christmas Trading Update

 

Joules delivers continued strong retail trading through Christmas period

 

Joules, the premium British lifestyle brand, today updates on the Christmas trading performance of its retail business for the seven-week period to 6 January 2019 (the "Period").

 

The Joules brand continued to perform well over the festive trading period with retail sales¹ increasing by 11.7% against the prior year on a comparable basis.  This performance reflected growth across all of the brand's product categories.

 

Joules delivered a particularly strong performance online with E-commerce representing almost half of total retail sales during the Period.  This was driven by a good performance through Joules' own digital channels as well as through concession partners' websites and reflects the appeal of the Joules brand as well as the strength of the Group's integrated and flexible 'total retail' model.

 

Retail performance during the Period supports the Board's previously stated confidence in the Group achieving full year 2019 PBT in line with its expectations.

 

Colin Porter, Chief Executive Officer, commented:

"I am pleased to update on a continued strong retail performance for Joules through the important festive trading period, which represents an improvement from the retail sales growth in the first half of the year².  This good growth was achieved despite the ongoing backdrop of challenging sector trading conditions.

 

The Group's performance was again underpinned by the strength of the Joules brand, our growing and loyal customer base, and the flexibility of our 'total retail' model which continues to enable Joules to adapt to changing customer shopping behaviours."

 

Joules will announce its Interim Results for the 26-week period to 25 November 2018 on Wednesday 23 January 2019.

 

 

¹ Retail sales growth is calculated on a consistent basis year-on-year, based on retail sales including VAT and returns received, or anticipated, from sales in the Period.  Retail sales in this statement include Stores and E-commerce channels, both owned and concessions, but exclude the Shows channel.  For comparative purposes the prior period has been restated to reflect retail concession partnerships previously reported in Wholesale.

 

² As previously announced, comparable Retail revenue increased by 10% in the first half of the year.  Retail sales growth in the seven-week period was 24.0% excluding the prior year restatement for concessions, which was ahead of first half reported Retail revenue growth of 21.2%.

 

 

 



 

Enquiries:

 

Joules Group plc

Tel: +44 (0) 1858 435 255

Colin Porter, CEO

Marc Dench, CFO

 

Hudson Sandler (Financial PR)

Tel: +44 (0) 20 7796 4133

Alex Brennan

Lucy Wollam

 

Peel Hunt LLP, Nominated Advisor

Tel: +44 (0) 20 7418 8900

Dan Webster

George Sellar

Guy Pengelley

 

Liberum Capital Limited

Tel: +44 (0) 20 3100 2000

John Fishley

Joshua Hughes

 

 

Joules - 'a premium lifestyle brand with an authentic British heritage'

Established in Britain by Tom Joule three decades ago, Joules is a premium lifestyle brand with an authentic heritage.

A true multi-channel lifestyle brand, Joules carefully designs and sells clothing, accessories and homeware for women, men and children, with personality to match the colourful and uplifting outlooks of its growing community of customers.  Its products are available through its own retail stores, online, rural shows and events and wholesale channels.

Quality, Britishness, family values, colour and humour make Joules stand out from the crowd.  This approach, along with an unwavering attention to detail, and drive to surprise and delight its customers with unexpected product details, has been central to the brand's success and expansion and remains at the heart of everything Joules creates.

www.joules.com  |  www.joulesgroup.com 

 

Joules Fast Facts

·    Joules is an international brand, available in the UK, USA, Germany, France and other European markets

·    Joules operates 123* stores in the UK and ROI across a range of location types, has a significant online business and a well-established wholesale business with over 2,000 stockists worldwide, including John Lewis and Nordstrom

·    Joules' talented in-house print design team lovingly hand-draw all the prints you see within its collections each season

·    Joules is proud of its British heritage and still has strong roots in Market Harborough, the site of its first shop and head office - since day one

·    Colin Porter joined as COO in 2010 and became CEO in September 2015, with Tom Joule focusing on the creative side of the business in his capacity as Chief Brand Officer

·    Joules received Mark of Excellence for The Best Fashion Retailer at the Retail Week Awards 2018

·    Joules recently won Fashion Retail Business of the Year (between £101m and £500m turnover) at the Drapers Awards 2018, for the second year in a row.  The Group also won the Drapers Mainstream Brand of the Year in both 2017 and 2016, and Best British Fashion Retailer of the Year at the 2015 Drapers awards

 

*As at 25 November 2018, excluding concessions


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