Matalan registered an uptick in sales during its peak trading period despite “unprecedented levels of political uncertainty”.
The fashion and homeware retailer posted sales of £134.3m for the five weeks to January 4 up from £133.5m the same period the previous year.
The value retailer’s online sales during the period jumped 25%.
Matalan’s total sales during the 13 weeks to November 30 increased from £308.3m in 2018 to £311.7m in 2019.
However, when compared to the restated period during the 13 weeks to December 1, 2018, sales registered were below the £315.6m previously recorded.
Matalan’s restated EBITDA fell from £40m in 2018 to £33.7m in 2019.
Matalan chief executive Jason Hargreaves said: “The challenges faced by ourselves and the wider market have been well documented and our results released today continue to reflect that backdrop.
“Consumer confidence and spending remained depressed in the midst of unprecedented levels of political uncertainty throughout the autumn/winter season. Following an extremely poor market in September, described by the BRC as the worst on record, the actions taken to further strengthen our proposition are starting to positively impact.”
Hargreaves added that it was “more important than ever to evolve and to be agile” and said Matalan has “progressed” its strategy as a result.
The retailer will focus on on “providing additional product choice, fantastic new and refurbished store space, and a further improved online journey”, while continuing to drive operational efficiencies and improve stock management.
Hargreaves said: “Despite remaining cautious in a tough market, I’m confident that with the support of our colleagues we will have a stronger 2020.”
No comments yet