Matalan names Allan Leighton as its chairman October 16, 2012 FORMER Asda boss and Royal Mail chairman Allan Leighton is to join the board of Matalan as chairman, the discount fashion and homeware retailer said yesterday as it posted robust second quarter sales. The highly-regarded Leighton will replace John Mills, who has been in the role for six years and will now become deputy chairman. [...]
Matalan posts solid results May 16, 2012 BUDGET fashion and homeware retailer Matalan defied the retail gloom to post a 1.9 per cent rise in full year sales to £1.1bn. The company said despite “solid” results, margins were hit by discounting, VAT increases, and its decision not to pass on higher input prices to customers. Earnings before interest, tax, depreciation and amortisation [...]
Matalan posts solid results May 16, 2012 BUDGET fashion and homeware retailer Matalan defied the retail gloom to post a 1.9 per cent rise in full year sales to £1.1bn. The company said despite “solid” results, margins were hit by discounting, VAT increases, and its decision not to pass on higher input prices to customers. Earnings before interest, tax, depreciation and amortisation [...]
Grumeti can bounce back from Cheltenham defeat April 11, 2012 AINTREE’S prestigious three-day Grand National meeting gets underway this afternoon and it may be worth finding a TV just after 2pm to watch the remarkable Big Buck’s beat Sir Ken’s (one of the great Champion Hurdlers from the 1950s) unbeaten sequence of 16. Now, Paul Nicholls’ four-time World Hurdle winner is a best-priced 1/4 with [...]
Boxer Georg can land a punch in the Fox Hunters’ April 11, 2012 The first taste racegoers get of the Grand National fences at this year’s meeting comes in the John Smith’s Fox Hunters’ Chase at 3.40pm. Paul Nicholls last won this race 10 years ago with Torduff Express and he saddles the likely favourite Gwanako who was pitting his wits against Big Buck’s at this meeting last [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 6, 2012 FINANCIAL TIMES FEARS GROW FOR $45BN UTILITY AS BUYOUT GROUPS’ HEDGES NEAR EXPIRY The world’s biggest private equity deal is facing rising financial pressure during the next two years with the expiry of contracts that underpinned the takeover of utility TXU. Investors in the $45bn buyout of the company, now known as Energy Future Holdings, [...]
Matalan enjoys a boost in turnover but warns of a tougher year ahead January 17, 2012 MATALAN has warned of tough trading to come as consumers continue to feel the pinch, despite the firm posting a rise in like-for-like sales and delivering its best sales week since 2005. The out-of-town fashion and homeware retailer said like-for-like sales increased by 9.9 per cent in the five weeks to 31 December, up from [...]
Matalan rating downgraded by agency Standard & Poor’s November 2, 2011 STANDARD & Poor’s downgraded Matalan’s credit rating yesterday, in a further blow to the budget retailer after it reported a slump in second-quarter profits last month. The credit agency, which also cut the rating on its £225m debt to “junk”, said the group had been hit by “low consumer confidence, relatively high unemployment, and inflation, [...]
Matalan warns of tough times ahead October 18, 2011 RETAILER Matalan said yesterday it remained cautious on its outlook after reported a 63 per cent fall in earnings for the second quarter. Ebitda – Earnings before interest, taxes, depreciation – plunged to £13.6m in the 13 weeks to 17 August. Matalan blamed the tough climate, promotional activity and higher input costs. Total revenue dropped [...]
High Street boosts discounts September 25, 2011 HIGH street retailers stepped up the battle to win over cash-strapped shoppers this weekend by slashing prices and launching promotions, days after Britain’s supermarkets announced fresh price cutting campaigns. Top fashion retailers including Next and Gap launched a two day “flash sale” over the weekend, with items discounted at 50 and 30 per cent respectively [...]