Fashion and Homeware retailer Matalan reported a total revenue of £262.4 million for the 13 weeks up until August 25th.
EBITDA for the same period grew £22.8 million from £22.7 million the previous year.
Matalan CEO, Jason Hargreaves, said in a statement: “The second quarter’s results reflect a solid performance in what continues to be a volatile and challenging market. Our offer performed extremely well in the spring, with a reduction in discounts and healthy growth of over 3 percent in full price sales in the summer period. The store refurbishment programme is progressing, with 73 stores complete, delivering an improved shopping environment and level of choice for customers. The website continues to evolve, supporting strong online growth of 25 percent in the quarter.”
He added: “A strong focus on our strategy, good operational disciplines and the hard work of our colleagues has enabled us to absorb significant currency pressure in the first half of the year. This pressure increases through the remainder of the year and we don’t expect the difficult market conditions or consumer confidence to improve in the short term.”
