Moss Bros sales up 8.9%
Moss Bros, the menswear and suit retailer, saw like-for-like sales growth of 8.9% as it benefited from a store refurbishment programme and improvements in its product offering.
In the 16 week period to 19 May 2012 total sales were up 7.9% on the previous year with both the retail and hire divisions performing well although now against tougher comparatives.
The group continued with its store modernisation programme with the refit and reopening of the flagship Regent Street and Bicester Village stores. A further ten stores have been selected for refurbishment during 2012/13, which Moss Bros said will provide an indicator of the potential impact of refit on store performance, and the likely return on investment.
Brian Brick, Moss Bros chief executive, said: "We are pleased with the sales momentum which continues into this year and the ongoing control of margins."
Regarding the outlook Brick added: "Although we remain cautious about the general economic environment and the short term impact of the Olympic Games and Euro 2012 football tournament, we have a strong foundation from which to build and develop further our product offering, upgrade the standards of presentation of our stores and continue to improve our customers' experience. We remain confident about our medium term growth prospects."
The group will announce its interim results on 20 September 2012.
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