- FashionUnited |
Moss Bros Group PLC, who's portfolio includes Hugo Boss and Canali, has warned its profits may not meet market forecasts. Weak demand over the past seven weeks meant that it was unlikely to recover sufficiently to hit targets, it said.
Total sales fell 3.7% in the past 18 weeks to date, with like-for-like sales down 1.5%, the menswear retailer and hire company stated.
Moss Bros is the latest retailer to warn about weaker conditions in the consumer market as confidence amongst shoppers on the High Street declines, states the BBC.
The company said that the Christmas period "will have a major bearing on the final outcome for the year". However, it added that "given the sales performance of the last seven weeks, it seems unlikely that full-year profits will reach the current market consensus".