Matalan profits fall by 63 per cent after 'difficult month'
Wednesday 19 October 2011
Profits tumbled at Matalan in its second quarter and the discount fashion chain does not expect trading conditions to improve in the short term. Matalan said trading was hit by a "difficult month" in June when rivals started discounting earlier.
The 212-store retailer's underlying profits fell by 63 per cent to £13.6m in the 13 weeks to 27 August, on revenue down by 1.7 per cent to £258.5m. Darren Blackhurst, Matalan's chief executive, said: "The challenging conditions faced in the first quarter continued into the second quarter. While we do not expect these conditions will change in the near future, Matalan continues to be a profitable, cash generative and robust business with growth opportunities."
- 1 Top 20 misconceptions people believe are true
- 2 'We're not heroes, just tourists': Swedish police officers on holiday stop vicious assault on New York subway
- 3 Head transplant: man will be attached to new body in under an hour and aim is immortality, doctor says
- 4 Anti-vaccination group defends advert comparing immunising children to rape
- 5 Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
The sickening truth about food banks that the Tories don't want you to know
Katie Hopkins on LBC: Listen to caller taking The Sun columnist to task over migrant comments
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
Rupert Murdoch berated Sun journalists for not doing enough to attack Ed Miliband and stop him winning the general election
iJobs Money & Business
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...
£22000 - £24000 per annum: Recruitment Genius: This is an opportunity to join ...