- Prachi Singh |
Omni-channel fashion and homeware retailer Matalan, for the 13 weeks to August 25, 2018 reported total revenue of 262.4 million pounds (343.8 million dollars). The company said, full Price sales increased by 3.3 percent. EBITDA for the period rose to 22.8 million pounds (29.8 million dollars) against 22.7 million pounds (29.7 million dollars) last year.
Commenting on performance, Jason Hargreaves, Chief Executive Officer of Matalan, 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.”
“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,” added Hargreaves.