Joules, the country casuals clothes brand, continues to beat the consumer blues after reporting a 17 per cent jump in sales.
The business, which is building a new £20 million headquarters in Market Harborough, said today that online and instore sales had grown by more than a fifth in the year to May 26 – reaching £159 million.
Chief executive Colin Porter put that down to the growing integration between the online operation and its 124 stores, which are now split 50-50 in terms of sales.
Overall group sales were up to £218 million.
That was also thanks to rising wholesale revenues – split 50-50 between 海角视频 and overseas – boosted by growing demand in markets such as the US and Germany and sales to around 400 海角视频 independent stores.
In the States, Joules’ colourful clothes and accessories are sold through around 1,000 independents and online through big department store groups such as Bloomingdales.
Mr Porter said: “The brand resonates well over there. They like that the product is a bit different to what everyone else does, and the great family focus and Britishness.”
Work on a new headquarters in Market Harborough is underway and should be ready for 400 staff to move into in the summer of 2020 – the first time head office staff have been under one roof since the business launched 30 years ago.
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Mr Porter said he was “really pleased” with the way the business was growing.
He said: “Today’s trading update is really about keeping the momentum going, and is a reflection of how the year has panned out and very much reflects the strength of Joules, our product proposition and flexible model across e-commerce and, of course, great international growth.
“The big thing about it is that it is all about the brand and the product – we are not a high street retailer, but go out of our way to get our brand values across to our customers.
“We do not slavishly follow fashion and that’s what appeals to existing and new customers.
“As Joules celebrates its 30th anniversary, this strong performance, particularly in our international markets and across our e-commerce and licensing channels, reflects the strength of our distinctive brand as well as the appeal of our products across an ever-increasing range of lifestyle categories.
“The group’s flexible and integrated ‘total retail’ model is well suited to meet rapidly evolving consumer shopping behaviours.
“Supported by this strong momentum and our outstanding brand, growing customer base and skilled colleagues across the world, we continue to look forward with confidence despite well-documented sector headwinds.”
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Chief finance officer Marc Dench said the business will start planning for a potential October 31 no-deal Brexit in the coming months, by stockpiling several million pounds of stock in the event of hold-ups in the supply chain.
The business made similar plans for the March 31 deadline.
Colin Porter will be retiring from the business at the end of the year after nine years at Joules, and will be replaced as CEO by Asda commercial director Nick Jones.
Mr Porter said: “It will be sad when the moment comes.
“After a 35 year career in brands in the 海角视频 and overseas this will have been the best nine years or my career, thanks to a fabulous brand and great people to work with and a great journey from taking Joules from a private business to private investment to the IPO.”