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 like-for-likes dip

Like-for-like sales at Moss Bros dropped 1.5% for the 19 weeks to June 7.

An interim statement from the company said that total stock balance was down 10%, with stock over six months down 41%.

The statement said that working capital continued to be managed very tightly. It said: "Following earlier management actions and ongoing initiatives, the business is well placed to both limit any further downside from a continuing volatile environment, and take full advantage of any improvement."

Chief executive Philip Mountford: "The men's retail market continues to be extremely challenging but management believes the business is well set up to navigate this difficult period. As the UK's number one branded suit specialists with a wide range of fashionable suit collections, we are well differentiated from our competitors."

"With the distraction of a potential takeover bid now removed management's attention and energy will be re-focused on driving the business through he short term as well as concentrating on implementing our three-year strategic plan, to reinvest in our current portfolio, grow the core Moss chain and develop our Asian supply chain."

The board declared a special dividend of 1.3p per share to be pail on July 28.

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.