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 use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Moss Bros warns on profits as footfall slumps

Moss Bros has warned that its full-year profit is likely to fall short of market expectations following disappointing footfall during December.

Total sales for the 23 weeks to 6 January up 1.1% on 2016. However, like-for-like sales dipped by 0.1%.

The menswear retailer said there had been “volatility” during the period: like-for-like store sales were up 1.2% year on year between August and November, but down 8% from the beginning of December to now.

Moss Bros said it “continued to make progress, growing retail sales against a very challenging consumer backdrop”.

However, as a result of “lower footfall than anticipated during December, particularly in stores”, it expects to report a full-year profit before tax performance within a range of £6.5m to £6.8m, which is slightly below current market expectations.

Ecommerce sales were up 12.3% on last year, and now comprise 13% of group revenue.

Hire sales, which accounted for 10% of group revenue during the period, were down 3.6% on a like-for-like basis. However, this was an improvement on the first-half performance, which was down 8.4% year on year.

Overall, gross margins for the 23 weeks fell by 3% on last year.

Five new Moss Bros stores opened during the year, four closed and three were relocated. The retailer now has 128 stores in total.


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.