Matalan remains confident on outlook despite fall in revenue

Matalan storefront

Matalan has posted a drop in revenue following a “challenging” first quarter, despite remaining “confident” in its full-year profit outlook.

The fashion retailer posted revenue of £263.6m for the 13 weeks to May 27, 2023, down 8% year on year from £286.6m.

Matalan also posted revenue of £122.5m for the five weeks to July 1, 2023, up 5.5% from £116.1m for the same period last year.

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