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Moss Bros's stance on mid-season Sale pays off

Moss Bros grew like-for-like sales by 5% and increased retail gross margin by 430 basis points for the 15 weeks to May 14, after deciding not to run a mid-season Sale.

Like-for-like retail gross profit rose by 13.9% compared with the same period last year.

Retail sales including ecommerce were up by 5.1%, while hire sales grew by 4.7% during the period, both on a like-for-like basis.

Moss Bros refitted three stores and opened one new store during the period. Of its 124 stores, 85 are now trading in the new format.

The refurbished store layout is now divided by fit – slim, tailored and regular – rather than brand, in a bid to simplify the customer journey. 

The new-format stores are continuing to trade ahead of non-refitted stores and are on track to achieve their anticipated payback targets, the menswear business said.

“The strength of our core offer meant that we were able to trade through the period without running a mid-season Sale, which significantly enhanced gross margins in the period,” said chief executive Brian Brick.

“Hire sales continue to show improvement and ecommerce sales in the first 15 weeks of the year have also grown, reflecting our investment in systems and infrastructure. This has been another good period of progress for Moss Bros and we remain confident about our growth prospects.”

Moss Bros was named Most Improved Retailer award at the Drapers Awards in November last year.

Readers' comments (1)

  • Oh. So it's not all about price. Just good retailing.

    Well done MB.

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