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Moss Bros records rise in suit sales

Moss Bros saw like-for-like sales fall 3.9% for the 16 weeks ended May 23, but the volume of suits sold rose 27% over the period.

Total sales fell 2.3% over the period but gross margin for the year to date was 50 basis points ahead of last year.

Moss Bros said that like-for-like sales had improved over the 16 weeks, and were down 2% for the last 10 weeks.

Moss Bros chief executive Brian Brick said the company was prepared for a difficult year ahead.

He added: “Our core competency of suit selling remains very strong with our position as the UK’s number one branded suit specialist in no doubt. We continue to operate and manage the business in the manner befitting the current environment and the more I work with the management team the more opportunities I can see for this business in the future.”

Separately former Moss Bros chief executive Philip Mountford is understood to have received a £330,000 pay-off when he stepped down from the menswear chain in January. He has since joined Dutch lingerie chain Hunkermoller.

The failed takeover bid by Baugur last year cost Moss Bros £400,000 in professional fees.

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