StockMarketWire.com - Lifestyle brand retailer Joules said profit would be 'significantly' below market expectations as sales over the Christmas period fell short of expectations.

The company said it anticipated that 2020 underlying pre-tax profit would be 'significantly' below market expectations of £16.7m.

For the seven-week period to 5 January 2020, retail sales were 'significantly' behind expectations and decreased by 4.5% against the prior year's 11.7%.

This performance was blamed on disappointing online sales performance amid a lack of stock, the cause of which had now been addressed, the company said.

Looking ahead, the company said it expected second-half cost headwinds as a result of US-China tariffs, which was expected to continue into next year.


At 8:14am: [LON:JOUL] Joules Group Plc share price was -60p at 166p



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