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Joules brand’s profit and sales fall

British lifestyle retailer Joules is hard pressed in the COVID-19 pandemic-induced crisis.

Joules Group revenue slump by 15.3 percent to touch £94.5 million in the 26 weeks that ended 29 November 2020.

Joules-profit-sales-fall
Figure: British lifestyle retailer Joules is hard pressed in the COVID-19 pandemic-induced crisis.

Though the fall was probable considering the number of stores that were closed during the period.

The 26-week period also witnessed the retailer’s profits before tax fall from £8.4 million (in the previous year) to a low £3.7 million.

As it’s been the case with most of the fashion retailers, the online revenue for Joules saw a swell of 45% in the first half of the said period.

Healthy e-commerce performance in the 7 weeks to 3 January 2021 counterbalance the impact of store closures during the holiday season.

Nick Jones, CEO, Joules, shared that this performance – reinforced by very strong sales growth through e-commerce – was reached despite all store closures and prolonged COVID-19 lockdowns across the UK.

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