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Matalan cuts 721 jobs in FY22 as revenue increases 38 percent

5 days ago   |   By Fashion United

Image: Matalan, Facebook
British fashion and homeware retailer Matalan cut more than 700 jobs over the last fiscal year despite its revenue growing by 38 percent.
In the 52 weeks to February 26, the company reduced its workforce from 11,558 to 10,837 - a loss of 721 jobs, it said Thursday.
It came as the retailer increased its revenue to 1.03 billion pounds, up from 744.1 million pounds the prior year.
Matalan posted an EBITDA post adoption of IFRS16 of 197.8 million pounds, up from 80.5 million pounds a year earlier.
Pandemic recovery
Executive chair Steve Johnson said the results...
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Tendam's annual revenues increase by 43.3 percent

5 days ago   |   By Fashion United

Image: Hoss Intropia, Tendam Brands
Tendam Brands, Tendam's parent company reported total revenues for the twelve-month period to February 2022 were up by 43.3 percent to 1,113.4 million euros.
On a like-for-like basis, the company said, sales were up 22.9 percent versus 2020 and down just 0.3 percent versus 2019.
Commenting on the full year trading, Tendam president and CEO Jaume Miquel said in a release: “2021 was an extremely positive year for Tendam. We intend to continue growing the business in 2022 with enhanced profitability and a more prominent weighting of the digital business...
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