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 notches up £3m first-half loss

Moss Bros has reported first-half losses of £3m compared with a £2.2m loss for the same period last year.

The menswear retailer, which runs the Moss, Cecil Gee and Savoy Tailor’s Guild chains said it will meet its expectations for the full year.

In the six months to August 1, total sales fell by 0.6% to £60.7m, a 2.6% drop on a like-for-like basis. However, the retailer said it succeeded in maintaining a 56% gross margin.

Like-for-like sales in the mainstream fascias - which includes the Moss fascia - were down 2.3% during the period. The fashion fascias, which include the Hugo Boss business, notched up a 3.5% like-for-like decrease.

The company said that like-for-like retail sales in the first eight weeks of its second half have continued to improve and that gross margin is being maintained.

EBITDA during the first half was £0.6m, in line with full year expectations. Total stock levels were down 22% at £15.1m, versus £19.3m the year before.

According to Reuters Estimates, analysts had been forecasting a pre-tax loss of £7 million for the year to end of January, compared with £5 million for the previous year.



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.