Follow us

Menu
PARTNER WITH USFREE NEWSLETTER
VISIT TheIndustry.beauty

Matalan reveals revenue and profit growth

Alice Ierace
01 January 1970

Matalan, leading omni-channel fashion and homeware retailer of family value, has announced a revenue increase of 4.5% for the 13 weeks to 23 February 2019.

The retailer's total revenue increased by 3.8%, £1,103.9m compared to £1063.0m in 2018, for the 52 weeks to 23 February.

Commenting on the performance Jason Hargreaves, Chief Executive Officer of Matalan, said: “The business has performed very well this year, outperforming the market in what remains a tough retail climate. In uncertain times, we are well positioned in offering the great design, quality and value that appeals to savvy customers. A very strong underlying sales, margin, and cost management performance has enabled us to absorb a £39m currency headwind. This has delivered stability of EBITDA and an increase in Profits Before Tax.

“Our strategy has added more choice to a strong core product offer while improving the shopping experience via refurbished store space and an enhanced online journey. We also continue to invest in infrastructure that helps us operate more efficiently. Well managed execution has enabled growth to accelerate this year in both complementary store and online channels, online growing by over 30%. We have achieved this while managing the promotional mix sensibly in what has been a distressed market.

“We exited the year with good momentum, delivering a strong final quarter of growth in sales and EBITDA as the currency headwind, whilst still adverse, began to reduce in scale. We expect market conditions to continue to be very challenging, and so remain cautious for the year ahead. However, we continue to be focussed on the execution of a strategy that is clearly working.

Free NewsletterVISIT TheIndustry.beauty
cross