Fashion & homeware retailer Matalan Q3 FY'14 sales up 3.1%

Financial highlights
- Total revenue of £321.0m (2012: £309.5m)
- Total revenue for the same 13 week period last year was £319.4m
-  EBITDA of £41.5m (2012: £45.3m)
- Closing cash position of £59.2m (2012: £100.6m)
- Full year EBITDA and closing cash guidance remains unchanged

Peak trading for the 4 weeks to 28 December 2013
- Total revenue increased by 3.1%, including growth in full price sales
- Online sales growth of 22%
- Previous record day’s sales beaten by 20%

Overview & Outlook

Commenting on the third quarter’s performance Jason Hargreaves, Managing Director of Matalan, said: “I would like to thank all our colleagues for their hard work and commitment over the last quarter.

"The focus in recent months on our Ladieswear offer, product availability, and online growth delivered an improving trend through the period after a difficult start. We then carried this improvement through December.

“The market continues to be challenging and competitive. Whilst we are pleased with the recent improvement in sales we remain cautiously optimistic about the year ahead, although confident that the right initiatives are in place to further strengthen and grow the business.”

About Matalan Retail Limited

Matalan is the UK’s leading out of town fashion and homeware retailer and operates through 225 stores in the UK, an e-commerce platform and 14 overseas franchise stores.

Matalan Retail Limited was taken private in December 2006 by the acquisition of its parent company, Matalan Plc (now delisted and known as Matalan Limited), by Missouri Bidco Limited, subsequently renamed Matalan Finance Limited. Matalan Finance Limited has subsequently become a public limited company and is ultimately controlled by the Hargreaves family.

Matalan