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Moss Bros posts improvement in sales

Menswear business Moss Bros delivered an improvement in sales with like-for-likes rising after a “difficult” start to the half.

In the 18 weeks to June 1 sales rose 0.6% on last year with like-for-like sales rising by 0.3%.

Like-for-like cash gross profit also rose 0.6% on last year during the period.

At Moss Bros’ retail arm like-for-like sales including ecommerce were up 2%, however hire sales dropped by 6.2%, which the company said it had anticipated.

Overall the results show a marked improvement on the start of the year, when Moss Bross’ sales in the first seven weeks of the financial year were slightly below last year’s levels.

Moss Bros launched a new website in January and has seen online sales rise sharply since - for the first 18 weeks, online sales were up 138% on last year.

Ecommerce sales now make up 3.3% of total revenues compared to 1.4% for the same period last year.

Plans for further online expansion are in place and a mobile enabled site was launched last month. The debut of a transactional website for Moss Bros’ hire arm is also scheduled for September.  

Chief excutive Brian Brick said: “We are pleased that retail sales and margins have reverted to a positive trend after a difficult first seven weeks of the half. 

He added: “Although we remain cautious about the general economic environment we believe our strategy of refitting stores, investing in e-commerce infrastructure and focusing on our target market and customer offer will strengthen the Moss Bros brand and will maximise profitability. We are confident about our medium term growth prospects.”

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