Partner Article

Moss Bros customers move online as sales rise

Moss Bros, the chain of mens formal wear stores, which operate in Newcastle, South Shields and Seaham, say e-commerce sales now account for 5.1% of total sales.

In its results for the year to the end of January, the national chain said like-for-like sales were up 6.4% but like-for-like hire sales were down by the same amount.

A strong Christmas performance allowed Moss Bros to clear residual stock and sales had risen 7.3% in the first eight weeks of the new financial year.

The firm said that while 2013 had been a difficult year for the wedding industry, March 2014 had seen an upturn in bookings and stabilisation of the market.

CEO Brian Brick said: “We enter the new financial year with a strong balance sheet and a commitment to a significantly increased dividend. The ongoing cash generation of the business will support the continued investment in store refits and develop our multi-channel capability.

“2014 will see an increase in marketing to support the opportunities identified in the findings of the customer insight project, conducted in 2013. We will adopt “Moss Bros” as the master brand and will launch Moss branded sub brands in Autumn 2014.”

The company showed EBITDA up 16.5% to £9.2 million.

This was posted in Bdaily's Members' News section by Tom Keighley .