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Moss Bros adds new labels to bolster sales

Menswear business Moss Bros is to add French Connection and CK by Calvin Klein to its list of brands, as part of plans to stem declining sales and improve the suiting offer among its £249-plus collections. The additions come as Icelandic investment group Baugur, which owns part of a 28.5% stake in Moss Bros via Unity Investments and just under 20% of French Connection, prepares to add two non-executive directors to the board. The Moss Bros business will add 80 more Moss stores and spend £3.2 million a year on updating its shops. Like-for-like sales for the first 10 weeks of this year were down 1%. Profit before tax fell to £5.1m for the year to January 27, down from £6.2m the previous year, against sales of £133.9m.

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