Sales Slump Slows at Troubled Matalan

Evening Standard - London (August 31, 2005)

Author: Jim Armitage

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Summary

DERRY STREET, LONDON W8 5TT, TEL: 0207 938 RECENT trading at troubled discount store Matalan has picked up despite the gruesome conditions on the High Street.

Although like-for-like sales, stripping out new stores, were still down on the same weeks a year ago, chief executive John King said they were off by only 3.4% in the eight weeks to 27 August, compared with a 6.5% decline registered at the start of July. The London bombings had no significant impact on the group, whose stores tend to be away from the big city centres, King said.

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Extract

Sales Slump Slows at Troubled Matalan

Matalan has axed 300 jobs to offset the imp...

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