Moss Bros like-for-like sales up 7.8%
Mens formalwear retailer Moss Bros saw its like-for-like sales climb by 7.8% in the 19 weeks to 6 December.
The company said its retail sales, which accounted for 85% of revenue, benefited from the launches of new sub brands and from the growing number of refitted stores now trading. In addition, its hire eveningwear sales have continued to improve on the previous year.
In the 45 weeks to 6 December, total sales increased by 5.6% while like-for-like sales climbed by 7%. E-commerce sales rose by 81% year-on-year and now comprise 7.4% of group revenue. The company’s mobile and tablet sites are also continuing to grow and now account for 10% of e-commerce sales.
Moss Bros has refitted 14 stores during the current financial year as part of a five year refit programme. With 56 stores currently trading in the new shop format, the company said the refitted stores are continuing to achieve the expected increases in turnover.
Brian Brick, Moss Bros chief executive, said: "We are encouraged by the trading momentum throughout the business as we enter the important Christmas trading period.
“Hire evening wear has shown growth on the prior year and although there has been some weakness in retail demand due to the warmer weather conditions, we have offset this with selective promotional activity and close control over costs.
“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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