Matalan’s EBITDA soared 570% to £15.4m for the 13 weeks to 27 August, after the retailer fixed problems at its distribution centre in Knowsley.
Matalan autumn 16
Sales dipped 7% to £245.5m for the quarter, however, full-price sales at the business increased 3.9% compared with the same period last year.
Jason Hargreaves, managing director of Matalan, said the business made “solid progress” during the quarter: “Our approach in planning the season was an emphasis on greater co-ordination, improved availability and full price sales conversion. This served our customers well, and we delivered an effective exit from the summer ranges in July.”
Hargreaves said he expected the autumn season to remain “challenging” and added: “We remain measured and cautious in our outlook, focused on continuing to progress our proposition.”