Joules plots UK and Ireland store expansion drive as it returns to profit

Speaking to Retail Week, the brand’s founder Tom Joule said the retailer was looking to grow its bricks-and-mortar presence around the UK through a mixture of physical outlets and wholesale partners.

The company is targeting mostly market towns, which he said “have a really strong relationship with Joules as a brand”.

“We’re not putting a gun to our head on how many that we want to open. We just open them when they’re right. The business has so much opportunity in so many different areas,” Joule told Retail Week.

“Some of it will go back into some of the towns that we left. Some of it will be looking at new towns that we were never in in the first place. Some of it will be relocating within towns that are successful for us.”

Joule added that the company would remain mindful of its existing wholesale partners around the country.

The retailer opened three new outlets last autumn, including Chichester, a relocated store in Market Harborough and a concession in the Next store in Cheltenham.

His comments mark Joules’ first major commitment to growth since it plunged into administration in 2022.

The retailer, which was bought out by Next and Joule, shuttered half of its store estate at the time, reducing its portfolio from 130 stores to “around 65”.

Joule said the business was “on track” to post its first pre-tax profit for the current financial year, which runs until the end of January, due to a concentrated effort on full-price sales and the success of its kids and accessories ranges.

The retailer is also preparing to return to the Irish market in the autumn as it looks to re-establish its presence in Europe over the coming years.

“We used to have an incredible presence in Ireland, and we are starting to sell wholesale back into some of those independents over there,” Joule said.

The retailer was forced to pull its European stockists in 2020 following the fallout from Brexit.