Pricing policy pays off for Matalan
Value retailer Matalan increased sales in the second quarter as shoppers bought more items at full price over the summer.
Total revenue reached £262.4m in the 13 weeks to August 25, compared with just under £260m in the same period last year. Fullprice sales grew 3.3 per cent. The retailer described the market as “volatile and challenging” but said it had managed to deliver a reduction in discounts thanks to “design, quality and value”. Underlying earnings were broadly flat at £22.8m. Matalan has also invested in refurbishing its stores and revamping the website.