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Jules’ progress continued and sales exceeded expectations

Joules Despite the pandemic, he seems happy with the progress of the year to the end of May. The company said on Wednesday that strong digital momentum continued to be seen and store sales have exceeded expectations since it reopened in April.

Joules

Fashion and lifestyle retailers said their 12-month revenues increased 4% to £ 199m, despite the “significant challenges” they faced during the fiscal year. Its performance primarily reflects the strength of digital offers and the increasing number of active clients, as well as the positive contribution from the Garden Trading Company purchased in February.

The Group’s retail revenue increased 9% annually due to the rapid growth of its own digital channel and the strong Friends of Joules online marketplace. Excluding third-party websites, online sales increased by 48% through their own channels.

Physical stores were clearly unable to match such performance due to long-term temporary closures, down 41% year-on-year. However, as mentioned earlier, eight weeks after resuming, performance is better than expected, although no specific numbers are given here. The company also said that store sales were higher than the comparison period two years ago as it moved into a new fiscal year.

According to the company, recent physical store performance “reflects a combination of rising consumer demand and the attractive, predominantly local high street and lifestyle locations of the Group’s store real estate.” … apparently …

It is also opening new stores and includes the location of Center Parks, where three new sites will debut in order to bring the total number of Center Parks stores to five.

The wholesale channel added that it was adversely affected by forced store closures and the footprint of anemia when stores were allowed to open during the last fiscal year. This was true for both the UK as a whole and the group’s US and German partners. As a result, wholesale decreased by 17%.

However, pre-tax profit, excluding exceptional items, should be between £ 5.5m and £ 6.5m, which is slightly above current market expectations.

Overall, the situation was good, the company’s financial position was “strong”, with net cash of £ 4.7m and liquidity margin of around £ 39m at the end of the period.

The company also announced on Wednesday that its previously announced new CFO, Caroline York, will join on July 26th.

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Jules’ progress continued and sales exceeded expectations

Source link Jules’ progress continued and sales exceeded expectations

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