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More targeted promotions improve margins at Moss Bros

Like-for-like sales at menswear firm Moss Bros increased 6.1% for the 23 weeks to 7 January compared to last year, while gross margins improved by 1.4% thanks to more targeted promotions.

Total sales rose by 7.6%.

Moss Bros opened seven new stores and closed three, ending the period with 128. It refitted 11 stores during the period, so 97 now trade in the new format.

It said stock levels remain under close control, and residual stock has been cleared .

Chief executive Brian Brick said he expects the year ahead to be challenging thanks to “the uncertain consumer environment, wider political backdrop and higher input costs; in product from a weaker pound, business rates and employee costs”.

“We are therefore preparing the company for a more competitive trading environment and we are planning and deploying our resources accordingly.”

 

 

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