Christmas trading suits Moss Bros
Good progress over second half
Menswear retailer Moss Bros is ending its financial year on a high note, with healthy trading over the Christmas period topping off increased growth in the second half.
For the year to January 29, like-for-like sales grew 9 per cent, with the like-for-like growth increasing to 10 per cent in the second half. Each of the group’s three core fascia achieved second half growth, with like-for-like sales at Moss up 9 per cent, Cecil Gee up 10 per centand Hugo Boss up 15 per cent.
Over the last nine weeks of the year, covering the key Christmas and New Year trading period in which many UK clothing retailers found the going tough, Moss Bross like-for-likes grew by 7 per cent, with gross margin up 1 per cent on last year.
Philip Mountford, chief executive, said: “The company continued to make good progress in the second half, with like-for-like sales for the year up by 9 per cent and each of our three core fascia delivering sales growth.
“The company has benefitted from improved product and increased service levels in stores. Gross margin percentage continued to strengthen reflecting improvements made in product ranges, supply chain efficiencies, better buying terms, and more effective sales promotions.
“We expect profits in the year to be not less than market expectations. There remains further unrealised potential in existing stores and we are focused on further developing the company.”
