Matalan Q1 revenues dive as ‘severity’ of Covid-19 impact exposed – Fashion
Matalan has noted a seventy two per cent yr-on-yr drop in income for the 1st quarter as Covid-19 took its toll on the business.
For the 13 weeks to thirty Could, whole income at the omnichannel manner and homeware retailer was seventy five.3 million lbs, down from 273.five million lbs the identical period previous yr.
EBITDA loss post adoption of IFRS16 was 10.two million lbs, down from a gain of fifty.4 million lbs previous yr.
The firm ended the quarter with hard cash of forty.9 million lbs, down from seventy one million lbs.
Matalan CEO Jason Hargreaves mentioned the outcomes reflected the “severity” of Covid-19’s…
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