// Heavy discounting and digital sales boost Matalan’s Christmas revenue
// Total revenue up 4% to £148m
// Digital sales up by 33%
Matalan has said that its promotions and digital sales helped boost Christmas revenue and draw in shoppers during the busy trading period.
In the five weeks to December 29, the value retailer said total revenue increased four per cent to £148 million.
Its in-store sales climbed by 1.6 per cent, while digital sales went up by 33.3 per cent.
However, Matalan’s full price sales fell 0.5 per cent.
Meanwhile, for the 12 week-period up to November 24, the retailer revealed a 4.9 per cent increase in sales to £308.3 million.
Its full priced sales climbed by 7.3 per cent, but earnings went down from £44.9 million to £40 million.
Matalan predicts full year earnings to be from £100 million to £102 million, a drop from the £104.5 million in the previous year.
“A strong third quarter and Christmas trading period demonstrates continued progress and market outperformance, against a very volatile and challenging backdrop,” Matalan chief executive Jason Hargreaves said.
“We also tactically used our database of 12 million active customers to target exclusive offers and discounts in further support of the trade plan.”
He added: “Growing sales over Christmas by four per cent, including 33 per cent growth online, without material dilution to our full price position is a testament to the strength and relevance of our offer.”