Joules share price plummets on the back of profit warning

Joules’ share price has dipped dramatically on early trading after the Market Harborough firm issued a profit warning yesterday (December 14).

By close of trading yesterday, shares in the company were priced at just 143p – down over 52p, or almost 27% on their opening value.

Joules’ share price has a long way to go to plumb the depths it reached in March 2020 during the first national lockdown, when stocks were worth just 60p each, but prices have been falling steadily since they reached 300p per share in June of this year.

Investors will have been spooked by yesterday’s profit warning from Joules, in which the company said it expects full-year profits to come in below expectations at between £9m-£12m amid a perfect storm of rising costs, supply chain issues and labour shortages.