Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Moss Bros sales edge up as modernisation continues

The suit business has reported increased sales in both its retail and hire divisions.

Like-for-like sales at suit retailer Moss Bros have edged up 4.9% in the year to 30 July 2016 – total sales were up 4.1% to £63.8m. Like-for-like retail sales were up 5.3%, which included a 7.7% growth in online sales, while like-for-like hire sales nudged up by 2.8%.

Pre-tax profit was also up – by 30% to £3.7m – and operating profit increased, again by 30%, to £3.6m.

Moss Bros is currently seeking to modernise its portfolio and strengthen brand identity, as well as investing in its ecommerce capabilities. Online sales now account for 10.3% of the group’s total revenues. The brand also recently launched its ‘Tailor Me’ service across the majority of its stores.

Commenting on the results, CEO Brian Brick said: ”Improvements in customer conversion and higher average transaction values have underpinned the ecommerce performance, which also now benefits from a fully responsive website, enabling us to more effectively serve those customers reaching us via mobile devices. The group’s financial performance continues positively and in line with the board’s expectations for the outturn for the year. We are profitable, cash generative and have a strong balance sheet and, given our confidence in our performance, we are declaring an interim dividend of 1.91 pence per share, in line with our progressive dividend policy.”

Tags

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.