Matalan retail sales drop 1.8%, 26 weeks to 27th Aug
08 Sep '05
3 min read
As announced in June, a full review of the Company's cost base has been completed which will realise annual savings of up to £15m.
Following the restructuring of the Company's cost base and the rationalisation of the distribution network, related costs of c.£5m will be expensed in the first half of the financial year.
John King, Chief Executive, said: “The measures undertaken earlier this year have enabled us to keep the business in good shape during a difficult six months in UK retail and we are pleased to have delivered an improvement in gross margins across the half.
The business is more streamlined as a result of tighter cost control and improved cash flows, and our stock position has been carefully managed. Our focus is now on a successful launch of the new season ranges.”
UK's leading clothier Matalan is also a homewares retailers offering quality fashion and homewares at up to half the equivalent high street price. It provides something for all the family. With an average 30,000 sq. ft per store, Matalan's product range offers a comprehensive selection of quality homewares, ladies', men's and children's clothing and footwear - all under one roof. With the latest key looks for the season, from modern basics to classic styles, customers can choose from a range of in-house brands, as well as top fashion names including Wrangler, Falmer, Wonderbra, Wolsey and Lee Cooper.
marketing@alchempro.com
