Joules experiences lower footfall due to coronavirus
Lifestyle clothing brand Joules has said the outbreak of COVID-19 in the UK has led to a decline in sales and footfall in its stores.
Although its online sales have been less affected, Joules said the outbreak is also likely to lead to a drop in sales through its concessions and wholesale trading partners.
Due to uncertainty over how long the impact of COVID-19 will continue, the company said it is unable to give any financial guidance at this stage.
Nick Jones, chief executive of Joules, said: “The challenges that all retailers are currently facing are unprecedented in modern times. Our immediate and over-riding objective is to ensure the wellbeing and protection of our colleagues and our customers. Our teams continue to demonstrate a flexible, can-do attitude during this testing time, and I would like to thank my colleagues across the world for their continued commitment and positivity.
“While the group’s near-term profitability will be impacted by the sector-wide effects of COVID-19, the board is remaining focused on protecting long-term value for its stakeholders and managing the near-term pressures on the business.”
