Joules warns of supply chain issues ahead of Christmas

Joules
The retailer said pre-tax profit is likely to be down on the previous year
// Joules said global supply chain issues resulted in some higher costs and stock delays
// The retailer saw sales rise despite the disruptions
// It warned of supply chain issues in the coming weeks and months

Joules has reported a sales rise across all channels despite the supply chain issues, which threaten to dampen success ahead of Christmas.

The retailer said pre-tax profit is likely to be down on the previous year.

In a half year trading update for the 26 weeks to 28 November, the company said it experienced strong demand with group revenue rising by 35% to £128 million.


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Joules attributed the growth to an increase in active customers to 1.9 million as well multichannel business model.

Stores delivered a strong revenue performance, with sales up 80% against the prior year.

Store revenue was just 3% behind the comparable pre-pandemic period two years ago despite lower high-street footfall.

Online sales increased 14% year-on-year and by 54% on a two-year basis.

“Joules has achieved good revenue growth against the prior two comparative periods reflecting the strength of the group’s flexible model and despite a challenging external trading environment,” Joules chief executive, Nick Jones said.

“Alongside the strong appeal of our core Joules brand, the Group continues to benefit from its increased diversification through Friends of Joules and Garden Trading, both of which continue to give customers even more reasons to shop with us.”

Joules said global supply chain issues resulted in some higher costs and stock delays.

It now expects pre-tax profit before adjusting items for the period to be in the range of £2 million to £2.5 million compared to the £3.7 million achieved in the prior year.

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