Home / Knowledge / News / Retail / Matalan Q3 FY21 sales fall to £245 mn

Matalan Q3 FY21 sales fall to £245 mn

27
Jan '21
Pic: Shutterstock
Pic: Shutterstock
Matalan, a UK-based omni-channel fashion and homeware retailer, reported sales decline to £244.8 million in its third quarter (Q3) FY21 ended November 28, 2020 compared to sales of £311.7 million in the same period previous fiscal. Restated EBITDA (earnings before interest, taxes, depreciation, and amortisation) was £28.8 million (Q3 FY20: £33.7 million).
 
“Today’s results reflect the severe Covid-19 related disruption to store trading throughout November as government restrictions required us to close completely or trade only “essential” ranges within stores. This followed a period of robust autumn trading in September and October, within which full price sales grew against last year and customers continued to feel comfortable and reassured in our large, convenient and safe store environments,” Steve Johnson, executive chairman of Matalan, said in a press release.
 
“Throughout the entire quarter the online channel delivered strong growth, benefitting from the hard work done during the year to increase capacity both in the supply chain and also via the enablement of online order fulfilment from stores,” Johnson said.
 
“All of our stores across the UK re-opened during December, and performance prior to further restrictions being announced was strong, as customers sought out true value, against an uncertain consumer, economic and political backdrop. Although Covid-19 restrictions again closed 62 of our stores from December 19, and a further 30 from Christmas Eve, we launched our main winter Sale online and in our remaining stores on Boxing day, with entry volumes below last year,” Johnson said in the release.

Fibre2Fashion News Desk (JL)


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