Discount fashion and homewares chain Matalan said yesterday it was weathering the consumer spending downturn as it reported a jump in festive sales.
The group, which owns 203 out-of-town stores across the UK, said like-for-like sales rose 5.9 per cent in the five weeks to January 4.
Comparable sales in the 13 weeks to January 4 also rose, ahead 3.4 per cent, in sharp contrast to recent grim trading updates from many high street rivals.
Next said sales plunged seven per cent across its stores between the end of July and December 24 as it suffered amid the tough retail conditions.
And Marks & Spencer trade has also been hit, seeing the group report an 8.9 per cent fall in general merchandise sales for its third quarter.
But discount groups have proved far more resilient, with cash-strapped shoppers hunting out bargains.
Matalan said: “Our strong value proposition chimed with our customers in the deteriorating economic environment.”
