Joules Issues Another Profit Warning As Heatwave Hits Sales

Despite announcing a new CEO last week, Market Harborough based Joules has seen its share price plummet following a profit warning.

The clothing and lifestyle brand has been struggling recently, with the situation apparently made worse by the hot, dry summer – impacting sales of its famous outerwear, rainwear, knitwear and wellies.

The Joules HQ on Rockingham Road

When Joules revealed on Friday that it was expecting to post a significant loss, company shares plunged by more than 30%.

After starting the day at 44p the share price had fallen to just 27p when the stock market closed for the weekend.

Investors will now be watching carefully what happens this week, as talks continue with Leicester-based clothing firm Next, about it taking a reported 25% stake in Joules  continue.