Matalan posts 21.5 percent rise in Q1 full-price sales

For the 13 weeks ended May 27, 2017, full price sales at Matalan increased 21.5 percent. While total revenue rose to 253.4million pounds (326 million dollars), EBITDA was 22.3million pounds (28.7 million dollars) against 16.2 million pounds (20.8 million dollars), reported in the same quarter last year.

Commenting on the first quarter trading, Jason Hargreaves, Chief Executive Officer of Matalan, said in a press release, “We had a clear focus on full price sales and delivering a great offer for our customers. This, with the hard work of our colleagues, has resulted in a strong set of results in what remains a challenging market. Consumers face tough times at present. Inflation is rising and they are surrounded by economic uncertainty. In such a climate Matalan is well positioned to offer fantastic design and quality at outstanding value.”

“Ladieswear particularly has had a great season, with our investment in design proving very successful. Our store refresh programme is also delivering very encouraging early results and we will be continuing to refresh more stores through the rest of the year. We don’t expect the retail environment to improve in the near term, so remain cautious, but are pleased with how the business is progressing,” Hargreaves added.

Picture:Facebook/Matalan