​Good morning, it's Paul here with Thursday's SCVR.

Please see the header above for company announcements I'll be reviewing today.

Comments section - I don't moderate the comments, that's done at Stockopedia HQ. They're a lot more lenient than I would be. This is not an advfn or LSE free-for-all, we like to keep the comments here courteous & constructive. If someone else posts something idiotic, please just ignore it. Replying tends to start off an unwelcome chain reaction. Many thanks.

Estimated timings - I got bogged down in JOUL, so will carry on until about 3-4pm to cover everything else.
Update at about 16:40 - today's report is now finished.


Joules (LON:JOUL)

Share price: 98p (up 4% today, at 08:57)
No. shares: 108.1m
Market cap: £105.9m

Annual Results

Annual Results for the 53-week period ending 31 May 2020

Established in Britain by Tom Joule three decades ago, Joules is a premium lifestyle brand with an authentic heritage... a true multi-channel lifestyle brand; its products are available through its e-commerce websites, retail stores, at rural shows and events and wholesale channels both in the UK and internationally....

Joules carefully designs and sells clothing, footwear and accessories for women, men and children. The business also sells ever-growing collections of homeware, eyewear and lifestyle product ranges through both its licensing partnerships and 'Friends of Joules', the brand's online marketplace that brings together hundreds of creative businesses to give customers everything they could ever need for a contemporary country lifestyle.

Background - This is an interesting share to me (no current position) because it sells about half of its product online. Next (LON:NXT) showed us how this is the way to go. Next is a rare success story in retailing, because it migrated so much business online (more than half).

Joules messed up its website distribution, warning on profits (significantly below mkt exps) which I reported on here, on 10 Jan 2020, hitting the share price 21% down to 179p.

Then covid hit of course. It announced a £15m placing, at 80p per share, and £15m extension to bank facilities, which I covered here on 3 April 2020.

The stores had to close, but online trading was described as better than revised expectations. Regular updates have been provided throughout the crisis. All stores closed…

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