Joules Group plc Pre-close Trading Update (1340R)
December 07 2016 - 2:00AM
UK Regulatory
TIDMJOUL
RNS Number : 1340R
Joules Group plc
07 December 2016
7 December 2016
Joules Group Plc
('Joules' or the 'Group')
Pre-close Trading Update
Joules brand continues to expand across all channels
Joules, the premium British lifestyle brand, today provides a
trading update covering the 26-week period to 27 November 2016,
which is the first half of the Group's 2017 financial year (the
'Period' or 'first half').
Group revenue for the Period increased by 16.2% to GBP81.4m (H1
FY16: GBP70.1m), reflecting the brand's increasing footprint,
growing customer base and the strong performance of both new and
core ranges across product categories.
Retail revenue increased by 15.8% to GBP56.7m (H1 FY16:
GBP49.0m), driven by good growth across stores and e-commerce. The
Group has continued to expand its retail presence in line with its
plans, with the opening of a net 10 new stores during the
Period.
Wholesale revenue increased by 17.2% to GBP24.5m (H1 FY16:
GBP20.9m), as anticipated, given the previously reported growth in
the Autumn/Winter 2016 wholesale order-book across all markets. The
brand has continued to develop in international markets including
expanded product ranges within key US wholesale accounts as well as
the launch of Kidswear in a new partnership with a leading US
department store.
Gross margin in the Period is anticipated to have increased by
approximately 100 basis points against the first half in the prior
year, benefitting from a higher proportion of full price sales,
enhanced distribution efficiencies, and a favourable product mix
within international wholesale sales.
The Group has continued to strengthen its team to support the
delivery of the brand's exciting long term potential. We were
delighted to appoint Lysa Hardy as Chief Customer Officer in
September 2016, to support the strategic priority of growing
customer numbers and enhancing loyalty and value.
Colin Porter, Chief Executive Officer, commented:
"The Group has continued to perform well throughout the first
half of the financial year delivering strong growth across all
channels. This reflects the strong appeal and quality of our
products as well as the appeal of the Joules brand to both new and
existing customers.
We look forward with confidence to the second half of the
financial year and beyond, despite the uncertain macro-economic
outlook. We have seen strong growth in our wholesale order book for
Spring/Summer 17 and we are well positioned for the Christmas
trading period."
Joules Group Plc will update on Christmas trading in early
January. The group will announce its Interim results for the
26-week period ended 27 November 2016 on Tuesday 31 January
2017.
This announcement contains inside information.
Enquiries:
Joules Group plc Tel: +44 (0) 1858
435 255
Colin Porter, CEO
Marc Dench, CFO
Peel Hunt LLP, Nominated Tel: +44 (0) 20
Advisor 7418 8900
Dan Webster
Adrian Trimmings
George Sellar
Liberum Capital Limited Tel: +44 (0) 20
3100 2000
John Fishley
Anna Hartropp
Joshua Hughes
Hudson Sandler (financial Tel: +44 (0) 20
PR) 7796 4133
Alex Brennan
Lucy Wollam
About Joules
Joules is a British, premium lifestyle brand. The Company
designs and sells Joules branded clothing, footwear, accessories
and homeware and operates a balanced multi-channel proposition
which encompasses retail (stores and e-commerce), wholesale and
other smaller channels such as country shows and events and
licensing.
Joules has 107* UK and ROI stores, a customer database of
approximately 2.3 million(*) customers, an established e-commerce
platform and a fast growing international presence. Joules is also
a top selling wholesale brand in major UK retailers such as John
Lewis and Next Label. In November 2016, Joules won the prestigious
"Mainstream Brand of the Year" award at the 2016 Drapers Awards.
This followed the business's recognition as "Fashion Retail
Business of the Year"(**) at the 2015 awards.
The Joules brand is at the heart of the business and encompasses
values of "time-off", heritage, countryside, Britishness, family
and fun. These brand values are reflected in the product designs,
which are recognisable for their distinctive colours, prints,
detail and quality.
www.joules.com
www.joulesgroup.com
* Figures are stated as at 27 November 2016
** GBP30-GBP100 million turnover category
This information is provided by RNS
The company news service from the London Stock Exchange
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