Matalan, a UK-based omni-channel fashion and homeware retailer of family value, has posted a 2.6 per cent revenue increase to £264.7 million in the second quarter (Q2) of FY22 ended on August 28, 2021, over the same period of previous fiscal. The company recorded a profit of £11.6 million compared to the loss of £22.7 million in the Q2 FY21.

 

Matalan, a UK-based omni-channel fashion and homeware retailer of family value, has posted a 2.6 per cent revenue increase to £264.7 million in the second quarter (Q2) of FY22 ended on August 28, 2021, over the same period of previous fiscal. The company recorded a profit of £11.6 million compared to the loss of £22.7 million in the Q2 FY21.#

“The results reflect the first full quarter of trading across all channels since before the start of the pandemic,” Steve Johnson, executive chairman of Matalan, said in a press release. “Having seen a terrific customer response to stores re-opening in the spring, we quickly cleared much of the winter stock overhang, allowing our focus to be on new ranges during the summer. As a result, despite customer footfall being affected by the so-called ‘pingdemic’, appetite for new outfits remained strong, supporting a growth in full priced sales of 25 per cent against last year.”

 

Matalan, a UK-based omni-channel fashion and homeware retailer of family value, has posted a 2.6 per cent revenue increase to £264.7 million in the second quarter (Q2) of FY22 ended on August 28, 2021, over the same period of previous fiscal. The company recorded a profit of £11.6 million compared to the loss of £22.7 million in the Q2 FY21.#

“Customers loved our fantastic dress ranges and choice of tops for every occasion and we saw a real recovery in smart and formalwear as more people returned to the office and freshened up their work wardrobe. Pleasingly, this strong full price performance was mirrored across both stores and online, contributing to a further build of market share over the period,” Johnson continued.

 

Matalan, a UK-based omni-channel fashion and homeware retailer of family value, has posted a 2.6 per cent revenue increase to £264.7 million in the second quarter (Q2) of FY22 ended on August 28, 2021, over the same period of previous fiscal. The company recorded a profit of £11.6 million compared to the loss of £22.7 million in the Q2 FY21.#

During the second quarter, gross profit shot up 220.8 per cent to £51.0 million (£15.9 million), while operating profit escalated from $1.2 million in the Q2 FY21 to $35.1 million in the reported quarter.

 

Matalan, a UK-based omni-channel fashion and homeware retailer of family value, has posted a 2.6 per cent revenue increase to £264.7 million in the second quarter (Q2) of FY22 ended on August 28, 2021, over the same period of previous fiscal. The company recorded a profit of £11.6 million compared to the loss of £22.7 million in the Q2 FY21.#

“In common with the broader retail market, over the last few months we have been feeling the impact of disruption within the inbound product supply chain, delaying the flow of stock into the UK and adding extra costs into the process. We are working closely with suppliers and partners to manage and mitigate the effects of this,” Johnson said.

 

Matalan, a UK-based omni-channel fashion and homeware retailer of family value, has posted a 2.6 per cent revenue increase to £264.7 million in the second quarter (Q2) of FY22 ended on August 28, 2021, over the same period of previous fiscal. The company recorded a profit of £11.6 million compared to the loss of £22.7 million in the Q2 FY21.#

“We have also reached a major milestone in our supply chain development programme with the implementation of the first phase of automation in our Knowsley warehouse. This significant piece of change will further boost our capacity to support and sustain our rapid growth online in addition to providing greater agility, efficiency and improving service for customers as we move into next year. We’re already underway with planning the next phase on the journey to further improve our supply chain and digital capabilities as we transition Matalan into being a truly multi-branded omnichannel lifestyle retailer,” Johnson said in the release.