×
232
Fashion Jobs
H&M
Area Operations Manager
Permanent · AUCKLAND
LOVISA
Regional Manager
Permanent ·
FOOT LOCKER
Manager in Training
Permanent · Auckland
ESTEE LAUDER
bb/cl/el/jm/lm/Mac/tf - Freelance Consultant - Auckland - on-Call/Freelance
Permanent · Auckland
H&M
Department Manager - Wellington
Permanent · WELLINGTON
H&M
40hr Full Time Sales Advisor - Sylvia Park
Permanent · AUCKLAND
JD SPORTS
Floor Manager - Hamilton
Permanent · Hamilton
JAY JAYS
Sales Assistant - Full Time - Jay Jays nz - Albany
Permanent · Auckland
PUMA
Assistant Store Manager - Tawa
Permanent · WELLINGTON
JACQUI E
Assistant Store Manager - Jacqui e nz - Hamilton
Permanent · Waikato
SMIGGLE
Sales Assistant - Part Time - Smiggle nz - New Plymouth
Permanent · Taranaki
JACQUI E
Sales Assistant - Casual - Jacqui e nz - Hamilton
Permanent · Waikato
VF CORPORATION
Icebreaker : Assistant Store Manager, Commercial Bay Touchlab (10 Month Fixed-Term)
Fixed-term · Auckland
VF CORPORATION
Icebreaker : Sales Associate, Keyholder - Commercial Bay Touchlab
Permanent · Auckland
JUST JEANS
Sales Assistant - Part Time - Just Jeans nz - Manukau
Permanent · Auckland
JUST JEANS
Sales Assistant - Part Time - Just Jeans nz - The Base
Permanent · Waikato
JUST JEANS
Store Manager - Just Jeans nz - Dunedin
Permanent · Otago
JUST JEANS
Assistant Store Manager - Just Jeans nz - Invercargill
Permanent · Invercargill
SMIGGLE
Sales Assistant - Part Time - Smiggle nz - Lower Hutt
Permanent · Wellington
JAY JAYS
Sales Assistant - Part Time - Jay Jays nz - Hamilton
Permanent · Waikato
DOTTI
2 x Sales Assistant - Part Time - Dotti nz - Mount Maunganui
Permanent · Bay of Plenty
JAY JAYS
Sales Assistant - Casual - Jay Jays nz- Whangaparaoa
Permanent · Auckland
Published
Sep 27, 2022
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Matalan sales strong in H1 but earnings suffer on costs

Published
Sep 27, 2022

When Nigel Oddy joins up-for-sale Matalan on 3 October, the interim CEO will be expected to oversee an in-place growth strategy that’s already delivering results. In a trading update to accompany the former New Look CEO’s impending arrival, it heralded record revenues for fiscal 2023’s first half and continued second-quarter sales growth both in-store and online.


Matalan


Trading at Matalan has recovered since the height of the pandemic, with the company reporting 13-week Q2 sales of £286.4 million, up from £264.7 million last year. That’s getting close to the £292 million recorded in the 14-week pre-pandemic period in 2020. And the trading update also talked of “ongoing growth momentum”.
 
But there was a fall in profit as costs increased. Core earnings (EBITDA, post-IFRS16 adoption) of £36.7 million were way short of the £61 million recorded in fiscal 2022 and compared to £42.8 million in 2020. Restated EBITDA under IAS17 came in at £13.1 million compared to £38.9 million in fiscal 2022 and £16.3 million in the pre-pandemic year.

Closing unrestricted cash on balance sheet amounted to £101.6 million compared to £173 million last time and £73.3 million three years ago, with the Liverpool-based group burdened with more than £500 million of debt from an earlier recapitalisation and needs to refinance £350 million of this in 2023. 
 
Looking ahead, Matalan expects sales of £1.4 billion by fiscal 2026. The group also expects its online sales channel to increase its share of total group revenues over the period, from 19% in FY23 to 26% in FY26.

Copyright © 2023 FashionNetwork.com All rights reserved.