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Matalan has revealed its revenues increased by 2.6% to £264.7m during the 13-week period ending 28 August 2021.
The retailer reported revenue in the second quarter of £264.7m, up from £258m year on year, with pre-tax profits of £11m up from a loss of £24m for the same period of the previous year.
In addition, cost of sales decreased by 11.7% to £213.7m, down from £242.1m for the same period in 2020.
According to Matalan, its “loyal customers and market positioning” accounts for the firm’s resilience post-pandemic, as well as customers’ “appetite” to shop.
Steve Johnson, executive chairman of Matalan, said: “Today’s results reflect the first full quarter of trading across all channels since before the start of the pandemic. Having seen a terrific customer response to stores reopening in the spring, we quickly cleared much of the winter stock overhang, allowing our focus to be on new ranges during the summer.
“As a result, despite customer footfall being affected by the so-called ‘pingdemic’, appetite for new outfits remained strong, supporting a growth in full priced sales of 25% against last year.”
He added: “In common with the broader retail market, over the last few months we have been feeling the impact of disruption within the inbound product supply chain, delaying the flow of stock into the UK and adding extra costs into the process. We are working closely with suppliers and partners to manage and mitigate the effects of this.”
“Whilst our priority remains immediate trading and recovery, we have continued to progress our strategic growth and development plan in parallel.”
