UK: Matalan Q3 earnings drop despite sales rise
- Q3 revenue up 3.7% to GBP321m
- EBITDA down 8.4% to GBP41.5m
- MD hails improved women’s wear offer
Online sales were up 22% during the three month period
Out-of-town fashion and homeware retailer Matalan recorded a drop in third quarter earnings, despite increasing revenues in the three months to 30 November.
The UK company, which left its full-year EBITDA forecast unchanged, added that revenues rose 3.1% in Christmas trading – the four weeks to 28 December – including growth in full-price sales.
Online sales were up 22% and Matalan surpassed its previous record sales figure in one day by 20%.
“The focus in recent months on our ladieswear offer, product availability and online growth delivered an improving trend through the period after a difficult start,” said Jason Hargreaves, Matalan managing director.
“We then carried this improvement through December.”
Hargreaves added that the company remained “cautiously optimistic” about the year ahead, despite the “challenging and competitive” market conditions.
More than 180 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people las...
This report provides information, analysis and valuable insight on developments relating to the performance apparel industry in the following categories: acquisitions, divestments and mergers; company...
Value fashion retailer Matalan is implementing Lectra's Modaris 3D product development solution to enhance the fit, style and quality of its garments....
- New wage ladder lifts workers towards living wages
- US retailers to face logistics issues into 2015
- African apparel sector needs cooperation to thrive
- UK fashion sector prospects depend on partnerships
- New scenarios driving sustainability in textiles
- Bangladesh worker dies as factory boiler ruptures
- Eight footwear factories lead on social compliance
- Global unions join forces on apparel wage poverty
- Gap unveils management changes as Q3 profit rises
- Long-running SL Garment dispute settled