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.
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.