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Clothing retailer Matalan bucks trend to open new outlets
19
Jun '09
Fashion chain Matalan is bucking recessionary trends and planning to set up new stores to add to its already existing 203 outlets, along with pursuing a fast track proposal to increase the store count in 2010.

Matalan had recently declared net profits of £102 million in the year ended February 28, 2009, up from £89.4m from the earlier year. In the first 14 weeks of the new financial year, like for like sales have improved by 8.2 percent.

This has come about due to a store refurbishing plan undertaken by the management in the last few months, which has been well accepted by the consumers along with adding a new range of clothing for men and women.

The company had spent £16m in renovating the outlets in the last fiscal year and is planning to spend a similar amount in the current year. Around 120 stores have been revamped till date which emphasizes on visual merchandising and navigation.

Matalan is a clothing and homeware store and was started by Mr John Hargreaves in 1985 and most of the Matalan stores average out at a size of roughly 30,000 square feet, emphasizing the space strategy that the company employs.

Fibre2fashion News Desk - India

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