Despite facing challenging circumstances and additional costs, Matalan performed strongly in the third quarter. The UK-based fashion and lifestyle retailer reported a 19% increase in revenues, reaching £291.4 million for the quarter, including the Christmas trading period. Revenue for the five weeks leading up to January 1 also rose by 8% year-on-year, totaling £130 million.

While specific figures for Matalan’s online channel were not provided, the company highlighted the success of its digital investment, which has resulted in annual turnover exceeding £200 million. Matalan emphasized the complementary nature of its physical stores and online platform, providing convenient access to its wide range of products for over 11 million customers.

Matalan’s pre-tax profits experienced significant growth, rising from £1.7 million to £10.6 million compared to the previous year. The company’s pre-tax profits for the first three quarters reached £11 million, a significant improvement compared to the substantial loss of £76.7 million during the same period in 2020.

Executive chairman Steve Johnson acknowledged the challenges caused by delays in product availability due to disruptions in the UK logistics and labor markets. These challenges resulted in additional costs for the company. However, Johnson highlighted the company’s ability to quickly turn stock around once merchandise became available. He also noted the positive response from customers, particularly for the womenswear range.

Johnson expressed his satisfaction with Matalan’s agility in managing these challenges and making stock available to customers efficiently. Looking ahead, the company plans to continue investing in its store portfolio, which includes 229 retail units in the UK and 52 overseas franchises. Matalan aims to enhance the store environment and proposition to capitalize on opportunities and expand its range for customers.

Useful Links:
Matalan Official Website
Retail Gazette