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IN BRIEF: Joules Swing To Annual Loss Due To Covid Lockdown Limitations

Thu, 06th Aug 2020 15:35

Joules Group PLC - Leicestershire-headquartered lifestyle brand - Reports pretax loss for financial year ended May 31 of GBP2.0 million, swinging from a profit of GBP12.9 million a year ago. Revenue down 12% year-on-year to GBP190.8 million from GBP218.0 million. Joules blames the Covid-19 lockdown for revenue hit as store sales fell by 20%, garnering a GBP18 million impact on retail sales and GBP13 million on wholesale sales. Says dividend will not be declared for this year.

Current stock price: 95.80 pence

Year-to-date change: down 58%

By Neetika Kurup; neetikakurup@alliancenews.com

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