Moss Bros like-for-like sales up 5.3%
Formalwear specialist Moss Bros Group has said that it is continuing to trade well and is on course to deliver the anticipated levels of growth as it reported a 5.3% rise in like-for-like sales in the 19 weeks to 7 December.
In the 45 weeks to 7 December, like-for-like sales were 2.2% ahead of last year while total sales rose by 1.8%.
In an interim statement issued today, the retailer said its hire business sales had stabilised after a difficult first half with the transition from the wedding to the eveningwear season.
In the 45 week period, Moss Bros continued to expand its e-commerce capability as online sales rose 194% on the same period last year. The retailer launched new websites for Eire, Sweden and Denmark and is planning to launch online in Australia early next year.
Moss Bros opened four new stores, closed seven and refitted 13 as part of the group’s five year refit programme launched in 2012. Post refit, trading performance for these stores has improved as expected and plans are in place to refit a further twenty stores during 2014/15. The retailer currently trades from 133 stores.
Moss Bros chief executive Brian Brick said: “We are encouraged by the trading momentum throughout the business which has continued into the second half of this year and we enter the important Christmas trading period in good shape.
“We continue to develop the business by leveraging the strength of our brands and our operational capabilities. The Board remains confident in the outlook for the full year.”
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