Moss Bros has a pattern for sales growth

Moss Bros hailed its turnaround plans yesterday as the menswear retailer unveiled a boost to like-for-like sales.

The firm, which has 155 stores, reported same-store sales growth of 8.2 per cent in the 15 weeks between 30 January and 14 May, which lifted gross profit by 9.8 per cent.

Chief executive Brian Brick, who is leading a makeover plan, which involved selling the firm's Hugo Boss franchises, said the group had benefited from its stronger offer.

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Elsewhere, the company opened its first new-look store in Canary Wharf earlier this month, which combines its hire, retail and bespoke businesses under one roof.

Moss Bros, which also trades as Savoy Taylors Guild and Cecil Gee, has used proceeds from the 16.5 million sale of the Hugo Boss stores to revamp its own outlets, invest cash in its online offering and pay off debts.

Brick said the company's strong performance was helped by its decision not to go with a mid-season sale this year.

He added: "We are pleased with the sales momentum which has continued into this year and the control on margins. There is no doubt that we are benefiting from strengthening our product offer.

"The selective refurbishment of our stores and a more simple business model will enable us to focus on the strengths of the core Moss brand."

Brick said the group remained confident a developed product offer and upgraded presentation of stores would deliver medium-term growth.

Yesterday's trading update showed total sales were up 12.9 per cent in the period, while the sale of the Hugo Boss stores had left the group in a "debt free" position.