British lifestyle brand Joules’ half-yearly sales hit by lockdowns

British countrywear and lifestyle retailer Joules has seen a drop of 6 per cent in its half-yearly sales.

The fall in the sales is not surprising considering the impact pandemic-induced store closures, subsequent lockdowns and cancellations of country shows has had on the retailer.

Notably, the wholesale revenue for the 6-month period, which ended 29 November, slumped by 44 per cent from the previous year.

That’s worrying! However, what’s brought some delight for the retailer is that the business has been positive during the Black Friday week. The retailer believes the positive trend to continue till Christmas.

Joules, known for selling apparels at country shows, invested well in its online campaign during these tough times, which helped its e-commerce sales shoot up by 45 per cent during the 6-month period.

It is appropriate to state here that Joules had launched ‘Friends of Joules’ online marketplace in 2019, wherein shoppers could buy products from third-party sellers.

Despite the revenue losses and shares going down, the retailer has said that it is in a good position to be a long-term winner in these tough times.

The 31-year-old apparel retailer currently has more than 120 stores in the UK.