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Joules sales decline after stock error

Sales at British lifestyle brand Joules fell by 4.5% year on year over the seven-week Christmas period to 5 January 2020, as a result of  disappointing online sales and a stock availability issue through the end-of-season Sale event.

Traffic to the brand’s website increased by 8% during the period. However, conversion was “significantly behind expectations” because of the stock problem.

However, stores and third-party concessions, where there was good stock availability, performed in line with expectations.

Earlier this year, the lifestyle brand reported a 1.3% year-on-year rise in revenues to £111.6m in the 26 weeks to 24 November. It also announced it would establish an outsourcing partnership with a logistics provider to operate and enhance its UK logistics operation, and transition its US distribution centre to a new partner.

“We are disappointed with our inability to fully satisfy our customers’ demand through our online channel during the important Christmas period,” said CEO Nick Jones. “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.”

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