Matalan suffers sales and profit drop in challenging retail environment January 20, 2020 Budget retailer Matalan suffered a drop in sales and profit at the end of last year as it fell victim to the challenges facing the UK high street. The clothing and homeware brand said total revenue dropped to £311.7m in the 13 weeks ended 30 November, from £315.6m the previous year, as consumer confidence and [...]
Most retail landlords consider re-purposing property September 18, 2019 Most retail landlords are considering redeveloping their properties for other uses in a further blow for the struggling UK high street. In total, 18 per cent of landlords have already completed a re-purposing project and a further 75 per cent are considering making the move, according to a survey by estate agent Savills. Read more: [...]
Matalan warns on margins after ‘tough’ May July 8, 2019 Matalan warned today that poor spring weather would dampen its second quarter results after the retailer was forced to slash prices. The budget fashion brand said May was one of the toughest months “in a number of years”, after unseasonable weather lead to earlier discounting. Read more: Matalan boosts revenue despite tough retail climate Total revenue [...]
Matalan boosts revenue despite ‘tough retail climate’ June 3, 2019 Budget fashion brand Matalan boosted profits and revenue last year despite a “tough” retail climate which has seen other retailers forced to launch store closure programmes. The figures Revenue was £1.1bn in the year to 23 February 2019, up from £1.06bn in the previous year driven by a 31 per cent rise in online sales. [...]
Toy retailer The Entertainer posts bumper sales growth in Christmas trading January 18, 2019 The Entertainer toy group has reported strong sales growth over the Christmas period despite retailers facing the most challenging festive trading season in a decade. The family-owned retailer, which sells online and through its stores, said sales for the five weeks to 29 December were up 22.4 per cent on the same period in the [...]
Bitcoin scam: Blue-tick Twitter accounts hacked to push bitcoin scams under Elon Musk’s name November 6, 2018 Verified Twitter accounts were hacked yesterday by scammers who masqueraded as billionaire Elon Musk in an attempt to persuade users to part with bitcoins. Fashion firm Matalan, film distributor Pathe UK and Panthoen Books, a publishing house, were all hacked by scammers who proceeded to use promoted tweets to send their adverts out far and [...]
Matalan posts slow growth, facing challenges from weak pound and volatile markets October 8, 2018 Matalan grew revenues by one per cent in its second quarter, while full price sales increased 3.3 per cent as the discount retailer faced challenges from a weak pound, and a “volatile and challenging market.” Its latest results show Matalan boosted revenue to £262.4m, up £2.5m year on year. Online growth was healthier, increasing 25 [...]
Boohoo snaps up Primark exec John Lyttle as new chief executive September 17, 2018 Online retailer Boohoo has announced it has snapped up Primark's chief operating officer John Lyttle to be its new chief executive. Lyttle will take on the role from 15 March 2019. Over his eight years at Primark, Lyttle oversaw a turnover growth of 158 per cent to £7bn, and has boosted operating profit by 116 per [...]
Boohoo snaps up Primark exec John Lyttle as new chief executive September 17, 2018 Online retailer Boohoo has announced it has snapped up Primark's chief operating officer John Lyttle to be its new chief executive. Lyttle will take on the role from 15 March 2019. Over his eight years at Primark, Lyttle oversaw a turnover growth of 158 per cent to £7bn, and has boosted operating profit by 116 per [...]
Matalan expands abroad with shops in Malta March 20, 2017 Matalan is expanding abroad with the opening of two new stores in Malta. The retailer currently has 227 stores in the UK, and the two stores in Malta add to Matalan's international portfolio, which comprises 23 stores. The new outlets at The Strand, Sliema and Zabbar Road, Fgura, will create jobs for around 60 staff. Matalan [...]