Moss Bros expects full-year results to beat market forecasts
Mens formalwear specialist Moss Bros said that it expects its full-year profits to exceed market expectations after the retailer traded well over the festive period.
In a statement issued today, Moss reported that like-for-like sales had risen by 2.7% in the 24 weeks to 12 January and that like-for-like cash gross profit was 9.5% ahead of last year.
Moss said that careful management of the level of discounting over Christmas and continued tight cost control meant that profit expectations for the 2012/13 financial year would exceed market expectations.
Commenting on the outlook, Brian Brick, chief executive Officer, said: “We are encouraged by trading throughout the business over the key Christmas trading period Close control over discounting to clear stocks, coupled with continued strong cost management, means we will finish 2012/13 ahead of expectations.
“We remain conscious of the fragile trading environment but continue to rigorously implement our strategic plan to turnaround and grow the business"
Moss will announce its Preliminary Results on 22 March 2013.
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