Digital sales spur British lifestyle group Joules FY21 performance

Fashion

12 Aug `21

2 min read

Joules Group, a British lifestyle brand, has reported 4.3 per cent revenue growth to £199.0 million during FY21 ended on May 30, 2021, compared to revenue of £190.8 million in the previous fiscal. The strong performance was attributed to e-commerce sales in the year which expanded 48 per cent to £122.0 million (FY20: £82.7 million).

Joules Group, a British lifestyle brand, has reported 4.3 per cent revenue growth to £199.0 million during fiscal 2021 ended on May 30, 2021, compared to revenue of £190.8 million in the previous fiscal. The strong performance was attributed to e-commerce sales in the year which expanded 48 per cent to £122.0 million (FY20: £82.7 million). #

“It is safe to say that FY21 was characterised by truly unprecedented trading conditions. Against this backdrop, the group delivered strong strategic progress, including growing our digital proposition, increasing our active customer base, and further diversifying as a leading lifestyle platform with the successful acquisition of Garden Trading and the continued expansion of Friends of Joules,” Nick Jones, chief executive officer at Joules, said in a press release.

Joules Group, a British lifestyle brand, has reported 4.3 per cent revenue growth to £199.0 million during fiscal 2021 ended on May 30, 2021, compared to revenue of £190.8 million in the previous fiscal. The strong performance was attributed to e-commerce sales in the year which expanded 48 per cent to £122.0 million (FY20: £82.7 million). #

Gross profit remained almost stable at £97.5 million (£96.8 million). The lifestyle group’s operating income in FY21 rose to £3.5 million (loss: £23.0 million), and profit for the year was £0.9 million (loss: £20.3 million).

Joules Group, a British lifestyle brand, has reported 4.3 per cent revenue growth to £199.0 million during fiscal 2021 ended on May 30, 2021, compared to revenue of £190.8 million in the previous fiscal. The strong performance was attributed to e-commerce sales in the year which expanded 48 per cent to £122.0 million (FY20: £82.7 million). #

The company’s overall store and shows sales slipped to £36.6 million (£63.2 million), reflecting the forced closure of non-essential retail stores, and cancellation of shows and events as a result of Covid-19. Wholesale revenue too dipped 17 per cent to £35.3 million (£42.7 million) due to ongoing impact of Covid-19 on many of the group’s wholesale partners both in UK and internationally.

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