Matalan has reported an 8 per cent reduction in revenue to £ 263.6 million for the 13 weeks ending May 27th 2023, owing to cost-of-living challenges and unseasonal weather. EBITDA was restated under IAS 17 to £ 2.1 million, down from £ 20.2 million the previous year.
Matalan has re-examined its full-year forecast and revised its trading strategy in response to market conditions, tightening stock commitments and remixing product offer for “improved value wherever possible in autumn/winter ranges.”
The company stated that it is ‘confident’ in its second-half profitability, which is supported by an improved and largely hedged cost forecast in the main areas of freight, energy, and currency.
As a result, Matalan anticipates EBITDA of £ 60-£65 million for the full year, driven by a “strengthened leadership approach that is part of a larger transformation programme.”
Jo Whitfield, CEO of Matalan, said, “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.”
Bharat Tex Special Report 2026 
