Home / Knowledge / News / Apparel/Garments / Matalan registers 29% profit rise
Matalan registers 29% profit rise
29
Jun '10
With a rise in its yearly profits, economic-fashion and home-ware retailer, Matalan, announces that its expansion plans are back on track.

Matalan had rejected its sale process early this year, and instead posted a 29 percent increase in the underlying annual profits, with sales and margins both on the upward trend.

Currently, the group intends to expand itself and is aiming to set up additional 100 fringe stores in the coming years. Plans of investing in the store's online service are also in the pipeline.

John Hargreaves owns the retail store and he made the adjusted EBITDA (earnings before interest, tax, depreciation and amortization) of £186.5 million in this fiscal, till February 27, which has increased from £145.1 million as registered last year.

Trading from across 205 stores, Matalan said that, they witnessed a rise in their earnings by 8 percent to £1.12 billion, with the like-for-like sales surging by an impressive 6.7 percent.

However, the rise in the like-for-like sales was lesser as compared to last year, but supples as against many high-street competitors, as broke customers turned to stores offering discounts to save money. Net margin was up by 1.4 percent registering 49.2 percent.

According to Alistair McGeorge, Chief Executive, Matalan, the group profited from their investment in the last three years in their goods, people and stores. Further adding that, the market continued to remain challenging for them.

Having called off their group selling plans to private equity, Matalan, accomplished a £525 million debt capital raising process in April. Funds from this package now will be invested in to the group's expansion and growth developments.

Matalan had launched three new stores last year, vis-à-vis in Scotland, London and Manchester. They intend to launch more six-nine new stores this year and touch 15 stores by the coming year. Sales via their online portal are also being worked out efficiently.

They have already expanded in to the international markets, with stores launched in Jordan, Abu Dhabi and Dubai. This is part of their expansion plans of setting up 15 new stores in the Middle East within the next five years.

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 21st Aug 2017

Turkish apparel exports fall 6.11% in H1 2017

Apparel exports from Turkey declined by 6.11 per cent in the first...

Textiles | On 21st Aug 2017

Liaoning Bora picks LyondellBasell’s PP & PE tech

Liaoning Bora Petrochemical Co., Ltd has selected LyondellBasell’s...

Courtesy: Datacolor

Information Technology | On 21st Aug 2017

Datacolor opts D&H Distributing as North American partner

Datacolor, a leader in colour management solutions, has renewed its...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search