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Moss Bros surprises City as sales rise

Even retailers bucking the high street sales slump couldn't beat this week's general drop in retail stock.

Moss Bros reported a 2.5% jump in like-for-like sales for the 26 weeks to July 26. Although against soft comparisons, store refits and formalwear sales are boosting trade, after like-for-likes dipped 0.8% in the first 16 weeks of the year. Shares dropped 2.5p to 56p.

John David Group was enjoying positive figures as it moved away from the price battle at the lower end of the sports market. Like-for-likes rose 9.4% for the first half of the year. Shares fell 23.25p to 406p.

Department store group Beales fared less well, with a downbeat trading statement and the decision to close its store in Ealing, west London. But finance boss Ken Owst said the business could still open stores in the next three years. Shares fell 4p to 61.5p.

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