Shares in the struggling high street retailer Joules plunged by more than a third after it issued a profit warning blaming the summer heatwave for plunging sales of clothing such as jackets, knitwear and wellington boots.
The company, whose share price has slumped by 90% over the last year, said it was seeing consumers looking for discount clothes “amid a heavily promotional environment” as overall demand weakens because of the cost of living crisis.
