- Prachi Singh |
Moss Bros Group PLC, in its trading update for the 15 weeks to May 12, 2018, said that total sales fell by 2.4 percent on last year, while like-for-like sales were 5.2 percent lower for the same period. This, the company said, is an improvement on the run rate seen in March of drop of 4.4 percent and 6.5 percent respectively.
Commenting on the outlook, Brian Brick, the company’s CEO, said in a statement: “Following a disappointing start to the year, our trading performance has, as anticipated, begun to improve, as a result of our improving stock availability. The wider trading environment however remains tough with a fragile consumer environment.”
Like–for-like retail sales, including e-commerce, were down 5.2 percent, a slight improvement on the March run rate of negative 6.7 percent. Like–for-like hire sales on a ‘cash taken’ basis were down 4.9 percent, unchanged on the March run rate of 4.9 percent. The company added that ecommerce sales continued to increase, and were up 11 percent on last year, and an improvement on the March run rate of 4 percent.
Moss Bros refitted a further two stores and said that two new stores will open shortly at Westfield London and in Oxford. As at today, the company traded from 128 stores.
Picture:Moss Bros website