Premium fashion brand Joules (LON: JOUL) is confident that its strong online sales will help to counteract the latest lockdown.
In the first 22 weeks of the current financial year, AIM-quoted Joules online sales were 35% higher and they accounted for 70% of all retail sales. Store sales were down by 18%, which is similar to the experience of Next and better than other rivals.
Peel Hunt had been expecting 30% growth in online sales in the first half. It has left its forecast unchanged due to the uncertainty of the latest lockdown. The broker still expects a return to profit this year.
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