Joules profits ahead of expectations as reopened store sales thrive

Joules Chelmsford

Joules has said it expects its full-year profits to be ahead of analyst expectations after a stellar year for ecommerce and rebounding store sales.

The fashion and lifestyle retailer has recorded a 4% uplift in revenues to approximately £199m in the full year to May 30, despite “significant challenges” amid the coronavirus pandemic.

Joules upped its full-year profit guidance in May, and has now said it expects profit before tax and exceptional items to be ahead of market expectations, in the range of £5.5-£6.5m.

The retailer attributed this to its continued strengths online, including increased active customer numbers, as well as the positive outcome of the purchase of gardening specialists Garden Trading in February this year.

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