• Home
  • News
  • Business
  • Matalan reports increase in Q3 revenue

Matalan reports increase in Q3 revenue

By Huw Hughes

17 Jan 2022

Business

Image: Matalan, Facebook

Matalan has reported a 19 percent increase in sales in the third quarter of the year.

In the 13 weeks to November 27, the British fashion and homeware retailer posted total revenue of 291.4 million pounds, up from the 244.8 million pounds it made a year earlier.

In the important Christmas trading period, the five weeks to January 1, revenue increased 8 percent year-over-year to 130 million pounds.

The retailer reported EBITDA profit post-adoption of IFRS16 of 61.1 million pounds for the quarter, up from 54.1 million pounds the year before.

Matalan executive chair Steve Johnson said in a statement: “The results published today for the third quarter and Christmas trading period reflect a strong performance in what continue to be challenging circumstances, not just for ourselves but for the broader sector.

“The flow of inbound stock has suffered delays and volatility, negatively impacting availability for customers. In addition, the UK logistics and labour markets have also suffered their own levels of heavy disruption, all adding significant extra costs for retailers.

“I’m pleased with the way in which our business has responded in managing these challenges, demonstrating unprecedented levels of agility in making stock available to customers as quickly and efficiently as possible.”