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Moss Bros like-for-like sales climb 12.6%

Suit specialist Moss Bros reported a like-for-like sales increase of 12.6% in the 16 weeks to May 22. Its total sales rose 12%.

The retailer warned that “performance comparison with last year will become more challenging in the second half due to the improving trend that was evident in the second half of 2009/10”.

Gross profit margin for the period was 2.7% below last year, as budgeted. However, the retailer said that a “strong sales performance lifted total gross profit ahead of last year”.

Moss Bros said its £5m banking facility has been renewed until May 31 2011.

Moss Bros chief executive Brian Brick said: “We are pleased with the sales momentum which has continued into this year. We remain cautious about the economic environment, but we continue to develop and strengthen our product offering and the presentation of our stores, as well as focusing on the quality of customer service. 

“We believe we are well placed to leverage our strengths and remain confident about our long term growth prospects”.

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