GENERAL MERCHANDISE NEWS
Matalan edges ahead in Christmas trading
15 January, 2003 | by Retail Bulletin
Like-for like sales up 1 per cent
January 15 2003
Discount clothing retailer Matalan saw sales for the five weeks January 11 increase by 15.6 per cent, with like-for-like sales up just 1 per cent, reflecting the tough UK clothing market.
Sales for the 19 weeks to January 11 grew 15.4 per cent, including like-for-like sales growth of 1.6 per cent.
The company said margins were ahead of last year, driven by better sourcing and a reduction in marked down stock management.
Paul Mason, group chief executive, said: “Given the difficult market conditions experienced in the run up to Christmas, Matalan continues to deliver good top line sales growth at healthy gross margins.”
