The Joules brand pre-tax profits were up 41% on last year. For the year ending May 29, the company had made £7.5 million before tax. Joules is a UK brand of clothing that experiences strong sales in the UK and in many countries abroad, particularly Germany and the USA. It is a brand that appears to have a good future and investment potential.
Originally established by Ian Joule in 1977 as Joule & Sons, the business began selling at fairs and market stalls. Tom Joule, Ian’s son, took over the reins in 1989 and created the Joules brand. It has been experiencing rapid growth. The first Joules store, rather than stall, was opened by Tom in 2000 – it now has over 100 stores in the UK.
The company gained a stock exchange listing in May of this year (2016) on the Alternative Investment Market (AIM). This enables smaller companies to raise investment capital with less regulation than on the main stock exchange. It is a sub-market of the London Stock Exchange and perfectly genuine and legal. It looks like a good investment- but that is your choice.
It focuses on “family and fun” and targets ordinary families seeking branded clothing at below traditional branded clothing prices. In addition to clothing, it offers footwear, accessories and home products such as beautiful bedding, kitchenware and a good selection of unique mugs – all of it inspired by British country lifestyles.
The clothing is well made and hard-wearing. If you want flashy clothing, give Joules a miss. It is for traditional families seeking something different from chain stores. The company’s online sales are increasing and the brand name is becoming increasingly more noticed by the British public.
Online sales have increased by 17.3% over the year, and by 13.1% in-store. This enabled the company to open 10 new stores, so profits are being ploughed back in to expand the scope of the business. This is always a good indicator for investment potential. According to Joules, it has a customer base of 2 million and growing rapidly internationally.
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