Moss Bros ready to cut its cloth as spending set to fall

Menswear retailer Moss Bros is to slash costs across the business as it braces itself for a consumer spending slump after next month's government spending review.

The group yesterday confirmed a "comprehensive review" of its cost base was under way to simplify the business and help it weather wider economic conditions. The news came as the group posted wider interim pre-tax losses of 3.3 million against 3m a year earlier despite a recovery in like-for-like sales which rose by 11.6 per cent in the six months to 31 July.

The group said it will be reviewing all aspects of the business, including its supplier base and operations, but is not expecting to make extensive cuts among its 1,600 store staff.