Christmas was not a time of celebration for fashion brand Joules (LON: JOUL) and there was a sharp reduction in the 2019-20 profit forecast.
There was a manual stock allocation error that meant that Joules did not have the required stock available. That was enough to knock this year’s profit by £3.5m.
This came as a shock because the trading statement before Christmas was positive. However, spreadsheet errors meant that there was too much stock in the stores and not enough allocated for the website.
Website traffic was 8% ahead but customers could not buy what they wanted. That meant ...
