- Prachi Singh |
For the 13 weeks ended May 26, 2018, omni-channel fashion and homeware retailer Matalan reported total revenue of 265.9 million pounds (354 million dollars) compared to 253.4 million pounds (337.4 million dollars) in the same quarter last year, representing a growth of 4.9 percent. EBITDA for the period increased to 24.8 million pounds (33 million dollars) against 22.3 million pounds (29.6 million dollars) last year.
Commenting on the company’s first quarter performance, Jason Hargreaves, Chief Executive Officer of Matalan, said in a statement: “Our first quarter represents a strong set of results. As our store refurbishment programme continued we delivered growth from both the store estate and also the online channel, which grew by 39 percent. Our Kids ranges have been a highlight this season although we have seen strong performance across the board.”
We don’t expect the retail climate to improve in the short term and market conditions will remain difficult. Currency pressures on operating margins are ongoing. We are therefore cautious in our outlook but confident that our strategy is delivering for customers which positions us well,” added Hargreaves.
Picture:Matalan via FTI Consulting