British business might be unsure about the ‘Special Relationship’ in the light of protectionist Donald Trump’s election, but retailer Joules is making hay across the pond.
The premium fashion firm revealed today a move to “overplay” its Britishness in the US has paid off and its signature wellingtons are selling strongly.
Joules’ total sales jumped 16.2% in the 26 weeks to November 27, boosted by its US performance. Retail sales rose 15.8% to £56.7m across its 107 stores.
The retailer appears to be benefiting from the same model as Ted Baker, helped by a strong recognisable brand and good quality product, which shoppers are prepared to pay for.
The fortunes of Joules contrast with the struggles of fellow fashion chain Jaeger. The Better Capital-backed retailer is losing more senior figures it has emerged, which follows the exit of chief executive Colin Henry last year.
Elsewhere we catch up with Oak Furniture Land’s boss, and Poundworld has landed itself a hefty fine for selling faulty phone chargers.
Quote of the day
“There will without a doubt be a trial on a high street at some stage or other. We’ll try it, I’m sure.”
Oak Furniture Land founder and managing director Jason Bannister on potential plans
Today in numbers
15.8% – Joules’ rise in retail revenue in the 26 weeks to November 27
£166,000 – the fine handed out to Poundworld for selling faulty phone chargers
All eyes will be on Sports Direct as the Mike Ashley-controlled retailer reports half-year numbers. Grocery etailer Ocado also posts fourth-quarter figures.
James Wilmore, news editor