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Joules upgrades outlook on growth ahead of further easing Covid-19 restrictions
StockMarketWire.com
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Lifestyle brand Joules upgraded its outlook on revenue and profit following strong digital sales and the confirmation of further easing of lockdown restrictions in England.
The company said it now anticipated that revenue and pre-tax profit for FY21 will be ahead of current analyst consensus expectations of £187 million and £4.1 million, respectively.
'This follows the UK Government's announcement yesterday [10 May] confirming the timetable for the easing of restrictions across the hospitality and leisure sectors over the coming weeks,' the company said.
Demand on Joules' own websites grew approximately 50% year-to-date against the comparable prior year period, up from the 47% growth reported for the first half of the financial year.
Since re-opening following the third national lockdown, stores had performed ahead of management's expectations, with sales for the four weeks since reopening ahead of the comparable period two years ago.
At 9:55am: (LON:JOUL) Joules Group PLC share price was 0p at 114.25p
Story provided by StockMarketWire.com
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