Thursday, 19 January 2012
The fashion and home ware company posted like-for-like sales in the
five weeks to December 31 by 9.9%, up from 1.3% in the 13 weeks to
November 26.The company said it delivered its best sales week to date
during the period,
beating its previous record in 2005.
Matalan published quarter revenues of £310.8m with like-for-like
sales up 1.3 per cent. During that period, the retailer accounted to
have its best weekly sales since 2005. The record was broken thanks to
an aggressive TV advertising campaign. Chief executive Darren
Blackhurst said: "It is clear that Matalan is well positioned in
this increasingly competitive market to offer customers the higher
quality, lower cost value proposition they seek."
However, the privately-owned company warned about tough times to come,
as that rising cotton prices at the end of 2010 and early 2011 were
now putting pressure on margins, and due to its buying cycle the
recent fall in cotton prices will not be reflected in its margins
until the second half of next year. Looking ahead, Matalan added: "The
outlook for the UK consumer continues to remain uncertain with
increasing pressures on disposable incomes, declining confidence
levels and the expectation of a tough January and February 2012."
"We remain focused and cautious and recognise the need to maintain
healthy cash levels and tight control of costs as we look after
customers and exceed their expectations going forward," Blackhurst
concluded.
Original post:
Matalan´s best weekly sales since 2005
http://www.textileglobal.com/2012/01/matalan%c2%b4s-best-weekly-sales-since-2005.html
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