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Joules sees longer lockdown denting revenue by £14m to £18m; revenue falls over Christmas period
StockMarketWire.com
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Lifestyle brand retailer Joules estimates that stands to lose between £14 and £18 million of revenue should the nationwide lockdown continue through to 1 April.
The company also offered an update on performance for the seven-week period to 3 January 2021, with revenue down by 23% reflecting lower overall footfall trends, in particular over the last two weeks of the period.
Retail sales through Joules' websites, including sales through the Friends of Joules digital marketplace, increased 66% year on year, but store sales declined by 58% during the period, the company added.
Looking ahead, the company said the annual sales impact from the new lockdown would be partially mitigated by various tailwinds including better-than-expected sales and profit performance in the seven months of trading up to 3 January 2021.
Story provided by StockMarketWire.com
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