Moss Bros sales looking up
New management pushing menswear business forward
February 6 2003
Menswear retailer Moss Bros saw like-for-like sales increase by 4 per cent in the 26 weeks to January 25.
The company said like-for-like margin improvement was much stronger than the sales gain, with the second half margin was 3 per cent higher than last year.
Following a period of difficulty during which the business faced a takeover bid and declining sales, a refocused product range has seen Moss Bros return to profit in the second half, with the full year loss is expected to be in line with market expectations.
Chief executive Adrian Wright said: “It is encouraging that within a relatively short period of time, the new management team has had such a positive impact on the performance of the company.
“Moss Bros is on the path to recovery but there is still work to be done, we go into the new financial year in a much stronger position and are confident that the Company can return to profit in 2003/04.”
