Matalan Christmas sales up 4 percent

For the 13 weeks ended November 24, 2018 Matalan’s total revenue increased by 4.9 percent to 308.3 million pounds (398 million dollars), with full price sales increase of 7.3 percent. During the holiday period to December 29, 2018, Matalan added that total revenue increased by 4 percent to 148 million pounds (191 million dollars), with sales growth of 1.6 percent in stores and 33.3 percent online. Full price sales however decreased 0.5 percent.

Commenting on the company’s performance and outlook, Jason Hargreaves, Chief Executive Officer of Matalan, said in a statement: “A strong third quarter and Christmas trading period demonstrates continued progress and market outperformance, against a very volatile and challenging backdrop. Whilst the third quarter EBITDA stepped back 4 million pounds on last year, this was due to the biggest impact of our full year currency headwind falling in the quarter, at 16 million pounds.”

“The refurbishment of our existing store estate will continue as will the opening of several new stores. Alongside this we will further grow our online penetration and add even more product choice,” Hargreaves added.

The company said, EBITDA for the third quarter was 40 million pounds (51.6 million dollars) compared to 44.9 million pounds in the same quarter last year. For the full year, the company is targeting an EBITDA range of 100 million pounds-102 million pounds.

Picture:Facebook/Matalan