Matalan has announced sales for the quarter to August 26th, 2023. These came in at £288.6m, marginally higher than for the same quarter last year with EBITDA at £25.1m which was up from £13.1m for the previous year.
The business said that it notched up a record season for school wear but that its online conversion had remained challenging with a fall in Q2 revenue of 35 per cent. Its ongoing priorities and focus include establishing improved prices and stronger product range assortments for Spring Summer 2024, together with testing new marketing and loyalty plans.
CEO Jo Whitfield said: “We have delivered a strong Q2 performance against a backdrop of a challenging and volatile retail environment. Shoppers continue to feel the impact of the cost of living crisis, spending less often and being more considered with their purchases, while retailers also faced unseasonable weather patterns.”
The market now awaits the release of Matalan’s annual results to February 25, 2023.
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