Daily Mail

Joules’ global success

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A GROWING demand for classic British styles saw Joules defy the gloom on the High Street.

The retailer said profits for the year ended May 27 would be marginally ahead of the forecast £12.6m.

Group revenues were up 18.4pc year- on- year to £185m, with retail sales up 15.9pc and wholesale sales up 24pc. The group’s share price was up by more than 3pc in morning trading and ended 5.3pc up at 346.5p, with analysts saying the stock could target 420p.

Liberum analysts said: ‘Today’s update shows that not all areas of the consumer landscape are struggling. There are some material share shifts taking place and we see Joules as a beneficiar­y.’

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