{"id":165870,"date":"2020-03-19T15:28:00","date_gmt":"2020-03-19T15:28:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/"},"modified":"2021-08-06T12:05:04","modified_gmt":"2021-08-06T12:05:04","slug":"joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/","title":{"rendered":"Joules suffers from decreasing store footfall and revenue due to Coronavirus"},"content":{"rendered":"<p>Fashion and lifestyle retailer, <strong><a href=\"https:\/\/www.theindustry.fashion\/joules-cites-black-friday-timing-and-online-stock-issues-for-revenue-decrease\/\">Joules<\/a> <\/strong>announced on Thursday that the Coronavirus outbreak in the UK has led to a<strong> significant decline in store footfall and revenue.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>The company said that in the weeks since its half-year results were released on January 21, <strong>its key retail channels have performed \u201cin line with expectations\"\u00a0<\/strong>but footfall has dropped significantly recently as the Government encouraged people to stay in their homes.<\/p>\n<p>A company statement said: \"The board is taking prudent actions to manage the near term challenges whilst ensuring the <strong>business remains well positioned to deliver its long term growth plans.<\/strong> These actions include removing cost and non-critical capex from the business. Furthermore, the board has decided to cancel the proposed interim dividend, saving \u00a30.7m of cash.\"<\/p>\n<p>Joules continued to say that decreasing footfall and revenue \"has significantly accelerated over recent days.\" The firm\u2019s e-commerce channel has also been affected, by a lesser extent, \"as<strong> consumers have shown increasing caution with their disposable income.<\/strong>\"<\/p>\n<p>A positive note highlighted by the brand said it has \u201cdemonstrated its strength, with <strong>consumer awareness at its highest-ever level of 46.4%, up 4.6ppt on the prior year<\/strong>, and Joules' brand health score also reaching record levels as measured by YouGov's monthly survey.\"<\/p>\n<p>With cashflow being a major concern for retailers during this crisis, the company said it <strong>has a \u00a316 million \u201ccash headroom, a strong relationship with its bank<\/strong>, Barclays, and a supportive founder and major shareholder, Tom Joule.\"<\/p>\n<p>It\u2019s continuing \u201cto plan for multiple scenarios and explore various ways to mitigate the impact of reduced demand for a potentially extended period of time.\"<\/p>\n<p>Joules further added that with the government increasingly introducing new measures to contain the virus, <strong>\"more urgent action is needed to provide support to those working in retail during these challenging and uncertain times.\"<\/strong><\/p>\n<p>CEO of Joules, Nick Jones continued: \"The challenges that all retailers are currently facing are unprecedented in modern times. <strong>Our immediate and over-riding objective is to ensure the well being and protection of our colleagues<\/strong> and our customers. Our teams continue to demonstrate a flexible, can-do attitude during this testing time.\"<\/p>\n<p>\"While the group's near-term profitability will be impacted by the sector-wide effects of Covid-19, the board is remaining f<strong>ocused on protecting long-term value for its stakeholders<\/strong> and managing the near-term pressures on the business. We have an outstanding, unique brand and a fantastic team. I am very confident that Joules will successfully emerge from this very difficult period in a position to continue to deliver its exciting long-term growth plans.\"<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":137657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[16042,6,10494],"tags":[5202,5707,10612,13079],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Joules suffers from decreasing store footfall and revenue due to Coronavirus - TheIndustry.fashion<\/title>\n<meta name=\"description\" content=\"Fashion and lifestyle retailer, Joules announced on Thursday that the Coronavirus outbreak in the UK has led to a significant decline in store footfall\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joules suffers from decreasing store footfall and revenue due to Coronavirus - TheIndustry.fashion\" \/>\n<meta property=\"og:description\" content=\"Fashion and lifestyle retailer, Joules announced on Thursday that the Coronavirus outbreak in the UK has led to a significant decline in store footfall\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/\" \/>\n<meta property=\"og:site_name\" content=\"TheIndustry.fashion\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/theindustryfashion\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-19T15:28:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-06T12:05:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/2021\/07\/Joules-5-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"476\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sadiyah Ismailjee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:site\" content=\"@theindustryfash\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sadiyah Ismailjee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/\"},\"author\":{\"name\":\"Sadiyah Ismailjee\",\"@id\":\"https:\/\/www.theindustry.fashion\/#\/schema\/person\/65f8569047edaf869f45596b0f1454ab\"},\"headline\":\"Joules suffers from decreasing store footfall and revenue due to Coronavirus\",\"datePublished\":\"2020-03-19T15:28:00+00:00\",\"dateModified\":\"2021-08-06T12:05:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/\"},\"wordCount\":431,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"},\"keywords\":[\"Coronavirus\",\"Covid-19\",\"Joules\",\"Nick Jones\"],\"articleSection\":[\"COVID-19\",\"News &amp; Insight\",\"Retail &amp; Etail\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.theindustry.fashion\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/\",\"url\":\"https:\/\/www.theindustry.fashion\/joules-suffers-from-decreasing-store-footfall-and-revenue-due-to-coroanvirus\/\",\"name\":\"Joules suffers from decreasing store footfall and revenue due to Coronavirus - 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