Joules has issued a profit warning following a torrid Christmas trading period driven by stock availability issues.
In an update this morning, the fashion brand said that retail sales over the seven weeks to January 5, 2020, were “significantly behind expectations” and as a result, it anticipated that underlying PBT for the year would be “significantly below market expectations”.
The retailer said sales over Christmas decreased 4.5% due to a stock availability issue towards the end of the year “the cause of which has now been addressed”.
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