Moss Bros like-for-like sales up 4.2 percent in 2013
By FashionUnited
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Sales in the first eight weeks of the new financial year to March 22 were up 7.3 percent and like-for-like gross profit was up 6.4 percent. Commenting on the results, Chief Executive Brian Brick said, “Moss Bros has entered the new financial year with a strong balance sheet,” adding, “The ongoing cash generation of the business will support the continued investment in store refits and develop our multichannel capability.”
However like-for-likes at Moss Bros’ hire division fell 6.4 percent as a result of a difficult market in wedding outfits. Hire, having had a difficult 2013 for wedding-related hire, is showing some signs of recovery and company expects to increase revenues in the 2014 wedding season.