Today’s news / Matas reports robust growth in holiday quarter
Even though the turnover in Matas' physical stores only increased very modestly, the online business was quite busy in the last quarter. (Archive photo). Photo: Mads Claus Rasmussen/Ritzau Scanpix

Matas reports robust growth in holiday quarter

Matas Group, including the Matas chain and the Swedish sister chain Kicks, experienced strong sales during the holiday season and Black Friday, with a total revenue increase of 7.4%. CEO Gregers Wedell-Wedellsborg highlighted the successful performance across the Nordics during the crucial holiday quarter. Physical stores saw a moderate increase of 2.7%, while online sales surged by 17.4%. Black Friday sales made up a larger portion of quarterly revenues compared to last year. Overall, the Group’s revenue reached nearly 2.7 billion Danish kroner for the quarter. Due to these positive results, the management has raised the growth forecast for the fiscal year 2024/2025 from 5-7% to 6.5-7.5% in local currency. Matas Group acquired Kicks for 700 million kroner in June 2023, which includes over 200 stores across Sweden, Norway, and Finland, and online shops. The deal also included online skin clinic Skincity, which is being phased out to integrate with the Kicks organization.