The fashion retailer has issued a profit warning to investors after sales over the festive season were ‘significantly behind expectations’ which the retailer blamed on stock availability issue.
The retailer has now confirmed that the stock availability issue has now been addressed and also stated that it has now established an outsourcing partnership with a leading logistics provider to run its UK supply chain operations.
‘We are disappointed with our inability to fully satisfy our customers’ demand through our online channel during the important Christmas sale period, We have identified the root cause of this one-off issue and have taken steps to prevent its reoccurrence. Demand for the Joules brand and its unique products remains strong, with continued growth in total customer numbers and website traffic as well as robust results in our stores and partner retail channels. We remain focused on continuing to expand the Joules brand and are making significant enhancements to our supply chain operations in the UK and US to deliver both future capacity growth and efficiency.’ – Nick Jones – Joules Chief Executive
