Fashion and homeware retailer Joules has reported that its revenue in the first half of 2021 was £128 million – an increase of 35% compared to the previous year.
This growth has been achieved by a surge in online sales, a strong performance by its stores – which reopened after the pandemic lockdown – and an increase in sales by its Garden Trading subsidiary.
The revenue increase has been achieved despite the global supply chain problems, which caused delays in stocking products. Joules has also had to deal with labour shortages in its distribution centre.
According to Internet Retailing, the Chief Executive of Joules, Mick Jones, commented:
“Joules has achieved good revenue growth against the prior two comparative periods reflecting the strength of the flexible model and despite a challenging external trading environment.”
Brexit, the Covid pandemic and high inflation have affected consumer confidence, but this has not stopped Joules from investing heavily in its long-term growth strategy. It has expanded its number of UK stores, and Friends of Joules has added more third-party products to the Joules website.
Many retailers are struggling to remain profitable. The Joules business model is an example of how to be a successful retailer, by combining online shopping with retail stores and diversifying into different product areas.
The other important part of the Joules business strategy is to use efficient and productive warehouse and logistic operations, which accurately and quickly process and deliver orders. Successful retailers like Joules typically work closely with their garment rails supplier to product well-designed and strong equipment that efficiently stores inventory.
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