Moss Bros reports 6.1 percent like-for-like sales growth

For the 23 week period to January 7, 2017, Moss Bros like for like sales were up 6.1 percent on last year. Total sales were 7.6 percent ahead of last year. Total retail sales were up 6.8 percent on a like for like basis in the period under review, while ecommerce sales were up 24.9 percent on last year.

Commenting on the outlook, Brian Brick, Chief Executive Officer, said in a statement, “Ongoing investment in new and refitted stores, alongside improved omni-channel capabilities have enabled us to continue the progress we made in the first half of the year. In common with many UK retailers, the year ahead looks set to be a challenging one, not least the uncertain consumer environment, wider political backdrop and higher input costs; in product from a weaker pound, business rates and employee costs; we are therefore preparing the company for a more competitive trading environment.”

Highlights of the 23 week results

Hire sales increased by 0.7 percent on a like for like basis during the period. Hire as a proportion of total sales declined during the second half of the year. Eveningwear was the main driver of Hire sales volume during the period. Overall, gross margins for the half year to date improved by 1.4 percent, a further improvement on the 1.8 percent increase achieved during the first half.

Seven new stores were opened and three closed in the year to date. The total estate is now 128 outlets. 11 stores were refitted during the financial year and 97 new and refitted stores currently trade in the new format, with plans to refit a similar number of stores during FY17/18.

Picture:Moss Bros