Sales slip at Matalan
Total like for like sales reduced by 7.4 per cent in the 26 weeks to 25th February
Matalan said that Home had continued to disappoint, compounded by a poor performance from the Christmas gift ranges. The move towards improving profitability led to a reduced level of grey market activity with a consequent reduction in like for like sales.
John King, Chief Executive, said: ‘Matalan is on track to deliver results for the year to 25th February that are in line with market expectations. The past year has been a difficult one, and the retail environment has been tough. The outlook for the sector remains challenging, but Matalan is continuing to maintain its market share in clothing and is taking action to address the issues in its Home operations.’
