Matalan posts quarterly revenue growth
Fashion and homeware retailer Matalan has seen its revenue climb to £286.5 million in the 13 weeks ended 28 May from £221.8 million a year earlier.
The company attributed the uplift to the value, quality and choice it offers customers.
EBITDA post adoption of IFRS16 came in at £44.4 million compared to £41.8 million in the same period last year.
Meanwhile, restated EBITDA under IAS17 was £20.2 million versus a previous £15.9 million.
Steve Johnson, executive chairman of Matalan, said: “Whilst not immune from the negative market factors facing the sector including weak customer demand, sub-optimal stock levels, and global inflation pressuring margins, Matalan is well positioned to weather these conditions given our reputation not only for great prices, but also for enduring quality, extensive choice, and fantastic design.
“Our top-line performance shows we are landing great product and customers trust us to give them the value they need now more than ever. We will continue to play to these strengths whilst progressing our strategy into the medium term.”
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