Joules Group H1 FY20 reports decline in revenue of 1.4%

Fashion

29 Jan `20

3 min read

Joules Group, a premium lifestyle brand, reported reduction of 1.4 per cent in revenue for first half (H1) FY20 ending on September 24, 2019 at £111.6 million. On a comparable 27-week period, including Black Friday in both periods, revenue increased by 1.3 per cent. E-commerce performed well which now represents 51.2 per cent of total retail sales of Group.

Joules Group, a premium lifestyle brand, reported reduction of 1.4 per cent in revenue for first half (H1) FY20 ending on September 24, 2019 at £111.6 million. On a comparable 27-week period, including Black Friday in both periods, revenue increased by 1.3 per cent. E-commerce performed well which now represents 51.2 per cent of total retail sales of Group.#

The performance in H1 was in line with the Group's expectations. Results are reported to be impacted by the timing of Black Friday trading period, which was in H2 in FY20 but in H1 in the prior year. Retail revenue was in line with the prior year at £79.9 million increased by 3.1 per cent including Black Friday in both periods.

Joules Group, a premium lifestyle brand, reported reduction of 1.4 per cent in revenue for first half (H1) FY20 ending on September 24, 2019 at £111.6 million. On a comparable 27-week period, including Black Friday in both periods, revenue increased by 1.3 per cent. E-commerce performed well which now represents 51.2 per cent of total retail sales of Group.#

E-commerce channel continued to perform well with 10.2 per cent growth at £40.9 million in H1, with good growth in UK and strong performances in the US and Germany. Stores revenue which play an important role in Group's 'Total Retail' model decreased by 9.2 per cent to £36.2 million.

Joules Group, a premium lifestyle brand, reported reduction of 1.4 per cent in revenue for first half (H1) FY20 ending on September 24, 2019 at £111.6 million. On a comparable 27-week period, including Black Friday in both periods, revenue increased by 1.3 per cent. E-commerce performed well which now represents 51.2 per cent of total retail sales of Group.#

Wholesale revenue decreased by 5.1 per cent to £30.8 million. This represented continued growth in international revenue, albeit at a slower rate than in the prior year, offset by an anticipated decline in sales to the UK wholesale customer base, which has been impacted by sector trends, especially for Group's smaller, usually high-street located 'field' accounts.

Joules Group, a premium lifestyle brand, reported reduction of 1.4 per cent in revenue for first half (H1) FY20 ending on September 24, 2019 at £111.6 million. On a comparable 27-week period, including Black Friday in both periods, revenue increased by 1.3 per cent. E-commerce performed well which now represents 51.2 per cent of total retail sales of Group.#

Other revenue which consists of royalties from sales of licensed products sold in partner channels and commission on sales on the 'Friends of Joules' digital marketplace increased by 6.3 per cent to £0.9 million.

Joules Group, a premium lifestyle brand, reported reduction of 1.4 per cent in revenue for first half (H1) FY20 ending on September 24, 2019 at £111.6 million. On a comparable 27-week period, including Black Friday in both periods, revenue increased by 1.3 per cent. E-commerce performed well which now represents 51.2 per cent of total retail sales of Group.#

Total international revenue increased by 6.1 per cent and now represents 17 per cent of total Group revenue. International e-commerce performance was particularly pleasing at 40 per cent growth, with the brand resonating well with customers in the US and Germany.

Joules Group, a premium lifestyle brand, reported reduction of 1.4 per cent in revenue for first half (H1) FY20 ending on September 24, 2019 at £111.6 million. On a comparable 27-week period, including Black Friday in both periods, revenue increased by 1.3 per cent. E-commerce performed well which now represents 51.2 per cent of total retail sales of Group.#

The Group ended the Period with 124 stores, one fewer store than at the beginning of the Period, with the focus in the half being on both portfolio management and the roll-out of our new point of sale system.

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