Matalan news and archive

Matalan cuts 721 jobs in FY22 as revenue increases 38 percent

British fashion and homeware retailer Matalan cut more than 700 jobs over the last fiscal year despite its revenue growing by 38 percent. In the 52 weeks to February 26, the company reduced its workforce from 11,558 to 10,837 - a loss of 721 jobs, it said Thursday. It came as the retailer increased its revenue to 1.03 billion pounds, up from...

23 Jun 2022

Business

Matalan reports increase in Q3 revenue

Matalan has reported a 19 percent increase in sales in the third quarter of the year. In the 13 weeks to November 27, the British fashion and homeware retailer posted total revenue of 291.4 million pounds, up from the 244.8 million pounds it made a year earlier. In the important Christmas trading period, the five weeks to January 1, revenue...

17 Jan 2022

Business

Matalan reveals plans to accelerate digital development

British retailer Matalan has announced plans to accelerate its digital development in a partnership with THG Ingenuity, an e-commerce technology and operations firm. The new partnership looks to continue the retailer’s expansion of online demand capacities and services through warehouse automation and a nationwide fulfil-from-store strategy....

16 Dec 2021

BusinessFeatured

Matalan Q2 profits rebound, but warns of supply chain disruption

Matalan has seen its profits rebound in the second quarter of the year amid an uptick in revenue, but warned that continued supply chain issues will impact its performance. In the three months to August 28, the British fashion and homeware retailer reported a 2.6 percent increase in revenue to 264.7 million pounds. For the first half of the...

21 Oct 2021

BusinessFeatured

Matalan reports drop in Q3 sales as lockdown takes toll

Matalan has reported a drop in revenue for the third quarter of the year as lockdowns took their toll on the company’s in-store sales. For the 13 weeks to 28 November 2020, total revenue at the omnichannel fashion and homeware retailer dropped 21.5 percent to 244.8 million pounds. That drop reflected “the severe Covid-19 related disruption to...

19 Jan 2021

BusinessFeatured

Matalan profits take hit from discounted lockdown stock

Matalan has reported a dive in profit for the second quarter of the year following heavy discounting at the British fashion and homeware retailer. For the 13 weeks ended 29 August 2020, EBITDA loss post adoption of IFRS16 was 28.5 million pounds, compared to 42.8 million pounds the year before. This was largely impacted by the retailer’s heavy...

14 Oct 2020

People

Jason Hargreaves steps down as CEO of Matalan

Jason Hargreaves, CEO for fashion and homeware retailer, Matalan, has announced he is stepping down from his role in the company. Jason Hargreaves, CEO of Matalan, said in a statement: “After seven years at the helm now is the right time for me to step down as the CEO into my new role. Providing our customers with the best value product on...

11 Sept 2020

BusinessFeatured

Matalan Q1 revenues dive as ‘severity’ of Covid-19 impact exposed

Matalan has reported a 72 percent year-on-year drop in revenue for the first quarter as Covid-19 took its toll on the business. For the 13 weeks to 30 May, total revenue at the omnichannel fashion and homeware retailer was 75.3 million pounds, down from 273.5 million pounds the same period last year. EBITDA loss post adoption of IFRS16 was 10.2...

22 Jul 2020

Retail

Matalan launches new brand positioning campaign

Value fashion and homeware retailer Matalan has unveiled a new brand position under the strapline ‘Real Life Ready’ as it looks to celebrate bringing a sense of style to the everyday. Described as the biggest rebrand in the retailer’s 35-year history, the campaign, which launched on TV over the weekend, features a new 60-second advert that shows...

10 Mar 2020

Business

Matalan sales edge up in third quarter

Matalan has reported a slight increase in revenues for the third quarter of the year and across the festive shopping period. For the 13 weeks to 30 November, the British fashion and homeware retailer saw revenue increase 1.1 percent to 311.7 million pounds from 308.3 million pounds in the same period a year prior. During the peak festive...

20 Jan 2020

Business

Matalan profits dented by ‘extremely tough trading enviornment’

Matalan has reported a drop in its revenues for the second quarter of the year, with CEO Jason Hargreaves citing “an extremely tough trading environment” and “awful Spring weather.” For the 14 weeks ended 31 August, the British fashion and homeware retailer saw a 28.5 percent year-on-year fall in EBITDA to 16.3 million pounds. However, total...

14 Oct 2019

Business

Q1 sales rise at Matalan

Total revenue at omni-channel fashion and homeware retailer Matalan, for the 13 weeks ended May 25, 2019 were 273.5 million pounds, up 2.9 percent on the first quarter of 2018. Commenting on the company’s performance, Jason Hargreaves, Chief Executive Officer of Matalan, said in a statement: “Although we delivered solid overall quarter, the...

8 Jul 2019