Fashion retailer Matalan's sales stalled because of "weakness" in its online and international channels despite "strong" performances across its stores.
The Liverpool-headquartered company has posted a revenue of £288.6m for the 13 weeks to August 26, 2023, its second quarter. That compares to the £286.4m it reported for the same period in 2022.
According to a statement issued by the retailer, Matalan's EBITDA increased from £13.1m to £25.1m over the quarter. During the company's first quarter, it reported a revenue of £263.6m, down from £286.5m.
READ MORE: Click here to sign up to the BusinessLive North West newsletter
READ MORE: Boohoo among those criticised for not sharing environmental impact
Matalan has not yet released its full-year results for the 12 months to February 25, 2023, to the public. In June, the accounts were presented to investors in a private briefing.
Chief executive Jo Whitfield said: "We have delivered a strong Q2 performance against the backdrop of a challenging and volatile retail environment. Shoppers continue to feel the impact of the cost-of-living crisis, spending less often and being more considered with their purchases, while retailers also faced unseasonable weather patterns.
"We improved our profitability year on year, driven by a solid sales performance, tight control of markdown, effective cost management and positive movements in input prices. Since joining the business, we have worked to develop a clear roadmap of business improvements across the short term whilst detailed work has begun on developing our long term strategy.
"We are focused on initiatives that will open up material growth opportunities in the years ahead, while working at speed to deliver better choice, value and experience for our loyal customers. I want to thank all of our colleagues, suppliers and partners who continue to work collaboratively to support the transformation of the business."
