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Matalan reports 3% rise in lfl sales

Published: 28 July 2010
Fashion and homewares retailer Matalan has reported like-for-like sales growth of 3% for the 13 weeks to May 29, 2010.
Matalan reports 3% rise in lfl sales
Revenue went up 4.4% during the period to £277.4m, while adjusted EBITDA rose 1.7% to £41.4m. Operating profit before exceptionals also rose by 2.5% to £32.6m.

The company opened three new stores last year, which contributed to total sales growth in the period, and has plans for a further six stores to be opened this financial year, starting Q2. Matalan has also seen continued progress and sales growth in its online channel.

The interim statement said Matalan remains "cautiously optimistic for the rest of the year" after a satisfactory start. It added that the outlook for the UK economy and consumer spending remained uncertain, but that "we continue to believe that our offer remains relevant to consumers and that we are well placed to continue to grow despite the challenging environment."

Ceo Alistair McGeorge said: "The group has again delivered a satisfactory performance in the first quarter against a backdrop of strong growth in Q1 last year and a fiercely competitive market. Our new store opening programme continues to progress on plan."

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