Tuesday 8 January 2019 11:32 am

Joules records strong Christmas trading thanks to online sales surge

Fashion retailer Joules today reported a double-figure sales rise over the Christmas period as online success crushed retail fears.

Joules said like-for-like sales rose 11.7 per cent in the seven weeks to 6 January compared to the same period the year before.

The company said the strong festive performance was driven by online trading, which represented almost half of all sales over the period.

Joules, which boasts over 2,000 stockists worldwide, said the online sales came both through its own website and through concession partners.

Chief executive Colin Porter said: “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 year.

“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,” he added.

The Christmas results show Joules continues to buck the downward retail trend. In December the fashion brand reported a 17.6 per cent rise in revenue in the 26 weeks to 25 November.

Shares in Joules were up more than five per cent this morning following the update.

Joules said it is confident its full-year results will be in line with expectations. The company will publish its half-year results later this month.

 

 

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