They have increased their gross margins and had a bullish future outlook in their trading update. The spring/summer was poor, but they expect autumn/winter to be good. I think all that is more or less in the price. It certainly hasn't affected their share price of late.
Modest rise today is more re-assuring following what looked like speculative money going in and just as fast out again of Matalan last week! The results will be the key factor next week....