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Matalan sales flat while EBITDA falls

Value fashion and homewares retailer Matalan said that sales for the full-year to February 26 remained broadly flat while EBITDA fell 7.4% after bing impacted by the snowy weather at the end of the year.

EBITDA was £153.6m during the period compared to £165.8m the previous year while total revenues were £1.1bn against the same figure in 2010.

Matalan, which opened seven stores during the period including a new format trial store in High Wycombe, said performance in the year was impacted by economic conditions and heavy snowfall during the peak fourth quarter trading period.

Kidswear performed particularly strongly during the year, strengthened by the launch of several new kidswear clothing brands. Online performance was also strong making Matalan’s online business its largest store.

Matalan, which has 212 stores in the UK, also made a return to TV advertising in the period, a move which, it said, has helped to raise its profile considerably.

Matalan chairman John Mills said: “This was a respectable performance achieved in a challenging market. The coming year will present consumers with further challenges to their disposable income, however we are committed to continuing to provide our customers with a wide choice of high quality products for the whole family at highly competitive prices, and I am excited about the opportunities that exist for the business.”

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