Member Article

Men's fashion retailer Moss Bros reports sales increase after successful sub brand launch

London-based men’s fashion retailer Moss Bros has reported an increase in like for like sales of 6.4% for the six months ending 26th July 2014. The group’s total sales were up 4.6% to £55.8 million, on this stage last year. Like for like retail sales were up 8.5%, with e-commerce sales up 100%. Pretax profit was marginally lower than expected, at £1.9 million compared to £2.1 million last year. The group has completed the refit of 9 stores so far this year, with 49 stores trading in its new, modernised format. Moss Bros has launched a new range of sub brands in Autumn 2014: Moss London, Moss 1851 and Moss Esquire. Brian Brick, CEO, said: “We continue to invest in the future and make good progress in delivering our strategy. “The successful launch of our new sub brand line up at the start of the Autumn 2014 season, in conjunction with our ongoing store refit programme, means our customer offer is now more closely defined and aligned with our target customer groups. “Ecommerce continues to grow strongly and our plans to develop a fully multi-channel customer experience are on track. “The early response to the Autumn/Winter retail range is positive, with like for like sales continuing to improve year on year. The Group’s financial performance continues positively and in line with the Board’s expectations for the outturn for the year.”

This was posted in Bdaily's Members' News section by Ellen Forster .