Joules shares price crashes after profit warning
The share price at Market Harborough retailer Joules has collapsed to its lowest-ever price since the company was floated back in 2016.
Earlier this morning (May 4), Joules issued a profit warning after saying the cost of living squeeze was impacting sales across its full-price and gardening products.
The firm also revealed that CEO Nick Jones is to step down after three years in the role.
On Wednesday morning, Joules’ share price had fallen by over 35%, at one point reaching 33.25p – the lowest point it’s ever been.
In an early morning statement to the London Stock Exchange, the Joules board says it is “cautious” about its near-term outlook, but “confident” in the long-term.
