All Matalan articles – Page 3
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Retail Navigator Analysis
Matalan (SWOT)
Matalan is operating in a highly competitive value clothing market and risks losing share to more dynamic value players such as Primark, TK Maxx and George by Asda. Matalan’s new investment group owners committed to pouring an extra £100m in new capital into Matalan and promised an extension of debt maturities to 2027. They also agreed a £257m “day-one significant debt reduction”, which took the brand’s total debt to £336m. Matalan needs to maximise on the lifeline the new ownership offers as it moves ahead without the experience of former chair and co-founder John Hargreaves on board.
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Retail Navigator Analysis
Matalan (Financials)
Matalan sales grew 12.1% to £1,153.4m in the 2022 financial year to 25 February 2023 (FY2022), despite consumer spending being impacted by rising interest rates and energy costs, driven by movements in selling price and range mix. Matalan’s pre-tax losses significantly widened to £103.4m in FY2022, from a loss of £7.6m the previous year.
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News
Matalan sales slip as store closures disrupt Christmas trading
Matalan has recorded a slide in sales over Christmas after online growth failed to mitigate the impact of enforced store closures.
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News
Leading retailers pledge to take action on diversity and inclusion in 2021
Following a year where business’ D&I agendas have come under scrutiny, 16 brands including M&S, New Look and Sainsbury’s Argos have partnered with Retail Week’s Be Inspired programme to promote diversity and empower their teams.
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News
Matalan reshuffles board as CEO Jason Hargreaves steps down
Matalan’s chief executive Jason Hargreaves is stepping down from the fashion and homewares retailer after a seven-year tenure at the helm.
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News
Matalan crashes to first-quarter loss as lockdown hits bottom line
Matalan has tumbled into the red on its first-quarter result as boss Jason Hargreaves described coronavirus as “the biggest challenge ever faced by the sector”.
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News
Matalan bolsters board as full-year profits fall
Matalan’s full-year profits dropped despite a slight uptick in revenues, amid a challenging backdrop of political uncertainty and decreased spending.
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News
Matalan founder Hargreaves asks lenders for £50m cash injection
Matalan founder and owner John Hargreaves has reportedly tapped existing lenders for a £50m loan.
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News
Matalan Christmas sales edge up despite ‘unprecedented’ uncertainty
Matalan registered an uptick in sales during its peak trading period despite “unprecedented levels of political uncertainty”.
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Analysis
Analysis: Who are retail’s next CEOs?
Retail Week speaks to headhunters and industry-watchers to determine which executives will be in charge of the UK’s biggest retailers over the next five years.
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News
Matalan profits dampened by ‘awful’ spring weather
Matalan has suffered a drop in second-quarter profit as political uncertainty and “awful” weather during spring dented earnings.
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News
Card Factory sets sights on expanding retail partnerships
Card Factory is set to roll out more partnerships and in-store concession stands following successful trials at Aldi and Matalan.
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News
Matalan warns on margins as discounting rises
Matalan has reported a rise in first-quarter sales and earnings but cautioned that price-cutting is taking a toll on margins.
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Analysis
Five ways retailers are solving the returns problem
As retailers continue to battle with serial returners and ‘wardrobers’ – people who wear something once then send it back – Retail Week looks at five ways retailers are trying to solve the returns problem
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News
Matalan launches in-house user experience lab
Matalan has established a user experience lab at its head office in a bid to gain a better understanding of its customer.
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News
Brexit to hit UK retailers’ profitability, warns Moody’s
British retailers’ profitability is likely to be held back by Brexit, according to research by credit ratings agency Moody’s.
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News
Matalan posts profit rise after full-price sales focus
Matalan has recorded a rise in full-year profits after achieving an 11.7% uplift in full-price sales.
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Analysis
Profile: Shop Direct's new boss Henry Birch
Shop Direct’s incoming boss Henry Birch’s career to date has spanned stints in the House of Commons and running William Hill’s online arm from Gibraltar.
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News
Matalan claims festive success amid ‘volatile’ market
Matalan unveiled an uptick in festive profits and sales driven by the success of its online division.
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News
Matalan profits rise boosted by full price sales
Matalan has posted a jump in second-quarter profits as surging full price sales and the performance of revamped stores boosted its bottom line.