Joules shares plummet following Christmas retail woe

Shares in premium lifestyle brand Joules have slumped dramatically following the company’s latest trading update.

The Market Harborough-headquartered firm saw its share price plunge from 227p at close of play yesterday to 160p at 8am this morning (10 December).

Earlier today the company reported that it had suffered a disappointing Christmas due to an internally generated stock availability issue.

Joules’ stores and third-party concessions performed in line with expectations over the festive period, but its retail sales took a 4.5 per cent hit.

In a statement to the London Stock Exchange, Joules’ CEO Nick Jones said the firm was disappointed by its inability to fully satisfy customer demand over Christmas, but added that steps had been taken to prevent a reoccurrence of the problem.

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