Matalan Q2 sales increase to 259.9 mn pounds

High-street fashion retailer Matalan reported a rise in sales to 259.9 million pounds (342 million dollars) for the 13 weeks period to August 26, 2017 compared to 245.5 million pounds (323 million dollars) in the same quarter last year, reports Evening Standard.

The report added that the company attributed this increase in sales to the success of it 227-stores chain and increase in “full-priced sales mix” in the period under review. The company’s performance was in contrast to the reports of its competitors offering deep discounts ahead of an expected difficult Christmas trading season, the report adds.

Matalan’s profits rose to 22.7 million pounds (29.9 million dollars) from 15.4 million pounds (30.3 million dollars), same quarter, last year. The report quoted the company’s Chief Executive Jason Hargreaves, who said that as Matalan enters the second half of the year, the company is pleased with how the business is progressing and good early reaction to the autumn ranges.

Picture:Matalan website