Matalan profits boosted by store revamps and fewer discounts

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MatalanGETTY

Matalan boosted its four times a year profits by 47% to £22.7million

The fashion and homewares chain’s pre-tax earnings in the 13 weeks to August 26 broke from £15.4 million last time to £22.7 million on 5.8 per cent cheerful revenue of £259.9 million. 

A 24-store makeover freed up space to outspread ranges, and its online click-and-collect service was “extremely popular”. 

Chief big cheese Jason Hargreaves said: “The strong second-quarter results round off a begin/summer season where the business has delivered well for customers. 

“We clothed inspired and engaged with an offer that performs well at jam-packed price, providing great design and quality, always at outstanding value.

Matalan profitsGETTY/STOCK

Matalan’s quarterly profits were boosted by stockpile revamps and fewer discounts on products

The strong second-quarter results entire off a spring/summer season where the business has delivered well for blokes

Jason Hargreaves

“In uncertain economic times, this has really resonated with purchasers.

“The full-priced sales mix has increased significantly and we are buying and trading at stronger frontiers. 

“Our operational execution and efficiency has been disciplined. 

“As a result, we have significantly shifted our working margins and driven a strong performing core business.”

Mr Hargreaves added: “As we pass into the second half of the year we are pleased with how the business is progressing and bring into the world seen a good early reaction to the autumn ranges as well as gig our new lighting offer.

“Our focus remains on delivering outstanding product and value whilst rehabilitating the journey for customers.

“We believe this will position us well in what continues to be a challenging retail atmosphere.”

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