Trading performance continues to improve at Moss Bros

By

Cajsa Lykke Carlson

Published
May 22, 2015

Moss Bros, the British suit specialist, saw total sales increase by 6.4% year-on-year in the 15 weeks to May 16. Like-for-like sales in the period were up 7.4%.

Retail sales - including e-tail - were up 7.6% and the new season ranges performed well. Like-for-like hire sales were up 6.4%. The company said e-commerce sales continue to grow and rocketed 64.9% year-on-year, with e-commerce sales comprising 10% of total sales for the 15 weeks to date. The mobile site represents 17% of retail e-commerce sales, up from 9% in the previous year.

Moss Bros' board is confident the company will meet market expectations for the year.

Commenting on the outlook, Brian Brick, Chief Executive Officer, said: “We are pleased with our progress. Retail sales and margins have continued to improve, boosted by the increasing contribution from refitted stores and the lower levels of residual stock. Hire sales continue to show the improvement seen earlier in the season and are showing good growth on the prior year. E-
commerce sales in the first 15 weeks of the year continue to grow, reflecting our continuing investment in systems and infrastructure. This is another good period of progress for Moss Bros and we continue to remain confident about our medium term growth prospects."