Stock availability issue spoils lifestyle brand’s Christmas

Leicestershire-based lifestyle brand Joules says its retail sales declined over the festive period due to an internally generated stock availability issue.

In a trading update on the London Stock Exchange, the Market Harborough firm said its Christmas retail sales decreased by 4.5 per cent against the previous year and were “significantly” behind expectations.

The company has attributed the decline to a problem with stock availability which marred its end of season sale, but says the root cause of the issue has now been addressed.

In more positive news, Joules’ other retail channels, including stores and third-party concessions, where it had good stock availability, performed in line with expectations. 

CEO Nick Jones said: “We are disappointed with our inability to fully satisfy our customers’ demand through our online channel during the important Christmas sale period. We have identified the root cause of this one-off issue and have taken steps to prevent its reoccurrence.

“Demand for the Joules brand and its unique products remains strong, with continued growth in total customer numbers and website traffic as well as robust results in our stores and partner retail channels.

“We remain focussed on continuing to expand the Joules brand and are making significant enhancements to our supply chain operations in the UK and US to deliver both future capacity growth and efficiency.”