UK retailer Matalan's revenue at £263.6 mn in Q1 FY24

26 Jul '23

1 min read

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Insights

UK-based omni-channel fashion and homeware retailer Matalan's revenue was £263.6 million in the first quarter of fiscal 2024, down 8 per cent compared to £286.5 million in Q1 FY23.
The company's EBITDA in Q1 FY24 was £26.1 million, while the EBITDA margin was 9.9 per cent.
In FY24, Matalan expects EBITDA range under IAS17 of £60-£65 million.

Matalan, a UK-based leading omni-channel fashion and homeware retailer, has reported a total revenue of £263.6 million in the first quarter (Q1) of fiscal 2024 (FY24), a decline of 8 per cent compared to £286.5 million in Q1 FY23. The company’s EBITDA post adoption of IFRS 16 was £26.1 million, with the EBITDA margin of 9.9 per cent.

For fiscal 2024, the company expects EBITDA range under IAS17 of £60-£65 million, Matalan said in a press release.

Jo Whitfield, chief executive of Matalan, said: “I am really excited that the team are now in place and are bringing the strength of their impressive retail experience into play as we get moving on the opportunities to underpin profitable growth. They have landed with immediate positive impact and are upweighting our activities and focus across the business in areas such as design, ranging, sourcing, supply chain, people and omni channel operations.

“The business had a challenging first quarter with cost of living pressure resulting in depressed consumer spending in discretionary categories. Unseasonal weather delayed a refresh of wardrobes for early spring creating a tough start to the season.”

Fibre2Fashion News Desk (DP)

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