Matalan takes huge step towards the black despite sales dip Retail Matalan's pre-tax loss was slashed during its latest financial year despite its sale dipping, according to new figures.
Revealed: Matalan lost over £100m as lenders took control Retail Matalan lost more than £100m in the year it was taken over by its lenders, newly-filed accounts have revealed.
Matalan turns to AI in ‘retail first’ as it predicts productivity to quadruple AI Matalan launched a Generative AI (GenAI) tool in a "retail first" which it has said will lead to a quadrupling of productivity.
Matalan finance chief to step down after 23 years as successor poached from Poundland February 12, 2024 The chief financial officer of Matalan is to step down after 23 years in role as the fashion retailer announced his successor.
THG: Cash flow improves at digital commerce giant September 14, 2023 THG, the Manchester-based digital commerce giant, has posted EBITDA above the top end of guidance in the first half of the year.
Matalan: Rainy weather and shift back to stores leads to revenue slump July 24, 2023 Matalan reported a challenging first quarter as poor summer weather impacted sales against the backdrop of cost of living pressures and a shift away from digital. The bargain homeware and clothing retailer said revenues in the thirteen weeks to 27th of May declined eight per cent to £263m. However, in the five weeks to the [...]
Matalan accused of ‘cowboy buying practices’ in cost-cutting drive July 5, 2023 A group of Asian suppliers has accused Matalan of “cowboy buying practices,” after the value retailer reportedly attempted to haggle for 20 per cent price cuts on some orders. The disgruntled supplier said the fashion and homewares brand displayed some of the “most aggressive, unreasonable buying practices” they had ever seen, speaking to The Times [...]
Matalan drafts in supermarket execs as bruised retailer looks to rebuild reputation March 27, 2023 Matalan has drafted in a pair of former Lidl and Co-op executives as the bruised value retailer looks to rebuild its performance following the exit of founder John Hargreaves earlier this year. Jo Whitfeild, the former chief of the Co-op’s food division, will take the lead as Matalan’s chief executive. She will replace interim chief [...]
Matalan deal done but founder Hargreaves won’t be coming back January 16, 2023 A long-awaited debt-for-equity swap which will save retailer Matalan has been confirmed – but founder John Hargreaves, who has been around the business for forty years, will not be part of the new management structure. Hargreaves had tried to put a bid together with Elliot Advisers to take over the business. But a host of [...]
Debt write-off for Matalan but founder Hargreaves on his way out January 15, 2023 Bruised and battered retailer Matalan is set to tell markets tomorrow it has been rescued by a debt-for-equity swap with its lenders, according to a host of news reports this weekend. Founder John Hargreaves, who founded the fashion firm some forty years ago, is set to lose control of the firm despite his own last-minute [...]