January 10, 2020 / 7:22 AM / 19 days ago

Fashion retailer Joules warns of profit hit due to lower holiday sales

Jan 10 (Reuters) - Fashion retailer Joules Group Plc warned on Friday that its 2020 profit was likely to be largely below market expectations as online retail sales took a hit from shortage of stocks during the Christmas period.

Joules said costs in the fiscal second-half could rise as a result of US-China tariffs, which it expects to continue into next year.

Retail sales over the seven-week period to Jan. 5 were significantly below expectations and fell by 4.5% compared with the prior year, the company said.

Reporting by Yadarisa Shabong in Bengaluru

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