CEO Jo Whitfield said the company delivered a significant increase in underlying profit as a result of a clear focus on growing full price sales and tight cost control. Credit: Shutterstock.

Loss before tax at Matalan for the full year ending 24 February amounted to £60m ($75m) compared with a loss of £106m.

Total revenue fell 6% to £1.08bn and fell 6% on a like-for-like basis to £1.05bn. Matalan attributed this to the impact of “strategic decisions and challenging trading and market conditions; improved full-price sales mix to 70%, up 4pp on last year through tighter stock and markdown control.”

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Gross margin improved 8% to £495m, driven by improved buying strategies, value creation programme, product margins & lower levels of discounting, as well as growth in full prices sales mix.

Jo Whitfield, CEO, commented: “In the last year we have kick-started the transformation of Matalan against a very challenging backdrop, resetting the foundations of the business. We delivered a significant increase in underlying profit due to our clear focus on growing full-price sales and tight cost control.

“With a new leadership team in place, we have put the customer back at the heart of Matalan to ensure we become top of their list of go-to value retailers. We have reset our value proposition, acted decisively to improve and strengthen our online performance and worked to improve our in-store execution.

“Looking ahead, we are determined to deliver better value, more choice and improved style for all our customers. It is still early days in our transformation, and while we have much more to do, with challenges ahead, we are pleased that the actions we have already taken are having an impact as we build a stronger, more modern Matalan.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In April, Matalan introduced 17 new third-party brands across core categories and extended the range of sizes available across hundreds of lines to provide customers with a “seamless and hassle-free shopping experience.”