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Clothing brand Jourles said it expected lower annual profit after third-quarter performance fell short of expectations as omicron-driven weakness in January sales and supply chain issues dented performance.
Revenue for the 9 weeks to 30 January 2022 was up 31% against FY21 and 19% against FY20, however, this performance, along with the group's PBT (pre-tax profit) performance over the same period, is behind the board's expectations,' the company said.
Weaker than expected revenue in Janaury was blamed on the negative impact of the omicron vairant on retial footfall and delays to new stock arrivals amid ongoign supply chain challenges, which hurt revenue and margin in the quarter.
Lookin gahead, the company said its base case expectation was for trading for the balance of the year to recover, supported by recovering footfall and an improved level of newness in the stock position.
'The wholesale orderbook for Spring / Summer 22 remains strong and the DC operation is normalising with delivery times back to standard service levels and productivity improved,' the company said.
'Assuming the board's base case is met, adjusted PBT for the full year is not expected to be less than £5.0m (FY 2021: £6.1m).'