joules group news and archive

Joules to appoint administrators, trading suspended on AIM

The board of Joules has decided to appoint Will Wright, Ryan Grant and Chris Pole of Interpath Advisory Limited as administrators to the company and Joules Limited after discussions to raise funds collapsed. Joules has 1,600 employees and 130 UK stores. Additionally, the company will appoint Will Wright and Ryan Grant as administrators to The...

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Low consumer confidence impacts Joules trading

Joules trading for the 11 weeks to October 30, 2022 has been behind the group's expectations. The company said in a release: “this, in large part, reflects the challenging UK economic environment which has negatively impacted consumer confidence and disposable income.” The trading underperformance has resulted in the company's working capital...

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Joules says turnaround plan in good progress

British lifestyle group Joules has said that under its new leadership team, led by Jonathon Brown and supported by Tom Joule in an executive capacity as product director, is making good progress in developing its turnaround plan. The company was responding to media speculation that it is considering an insolvency procedure. Joules said in a...

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Joules retail sales drop, expects to report full year losses

British lifestyle group, Joules has announced that retail sales have been depressed over the five-week period to August 14, 2022, resulting in an 8 percent year-on-year reduction in retail sales in the 11 weeks of the current financial year to date. As a result of the recent softness in trading and the current weak consumer sentiment, the...

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Joules raises full-year profit outlook as trading improves

For FY22 financial year ending May 29, 2022, due to additional cost reductions, Joules anticipates adjusted pre-tax profit to be slightly ahead of current market expectations. The company said in a statement that trading during the final weeks was consistent with the trends outlined in its previous trading update released on May 4, 2022. The...

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Joules CEO Nick Jones to step down

Joules Group has announced that after three years with the company, chief executive officer Nick Jones will step down from the role during the first half of the next financial year. Commenting on the development, Ian Filby, non-executive chairman of Joules, said: “On behalf of the Board and everyone at Joules, I would like to thank Nick for his...

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Joules H1 revenues improve 35 percent

For the 26 weeks to November 28, 2021, Joules Group plc said revenue increased by 35 percent to 127.9 million pounds, and store revenue increased by more than 80 percent to 35.5 million pounds reflecting a strong recovery in retail demand to almost pre-pandemic levels. The company’s statutory PBT after adjusting items of 2.6 million pounds...

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Joules first half revenues rise 35 percent

In its half-yearly statement, Joules Group said strong customer demand for the company’s products drove revenue by 35 percent or 24 percent excluding Garden Trading to approximately 128 million pounds. This performance, the company added, reflects continued growth in active customers to 1.9 million alongside the strength of the group’s flexible...

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Joules appoints Caroline York as its new CFO

Joules has announced the appointment of Caroline York as its new chief financial officer (CFO). The company said in a release that York will join Joules no later than September 2021 from Moneysupermarket Group Plc, where she is currently finance director. Prior to Moneysupermarket, York held finance leadership positions at Heathrow & BAA and,...

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Joules H1 revenues slide; CFO Marc Dench decides to step down

Joules Group revenue decreased by 15.3 percent due to enforced closure of non-essential retail with the company-owned stores closed for 10 of the 26 weeks to November 29, 2020. The company said PBT of 3.7 million pounds was ahead of expectations, while statutory PBT after exceptional costs of 2.4 million pounds, was down by 0.4 million pounds at...

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Joules says sales boosted by strong ecommerce growth

In a year-to-date trading update, Joules said that sales for the period were ahead of the board’s expectations driven by strong year-on-year e-commerce growth of 35 percent, with e-commerce revenue accounting for 70 percent of the group’s retail sales in the period. The company said in a statement that sales since the re-opening of Joules stores...

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Joules swings to loss, turnover declines by 12.5 percent

Joules Group revenue for fiscal year ending May 31, 2020 of 190.8 million pounds was down 12.5 percent. The company said in a statement that retail sales were 145.9 million pounds with store sales down 21.4 percent and e-commerce sales up 5 percent driven by strong sales through the group’s owned ecommerce channels, which increased 10.8 percent....