Menswear retailer set to beat expectations
Moss Bros's turnaround efforts have been rewarded with a pre-tax profit of£700,000 for the six months ending July 31.

The retailer recorded a loss of£1.8 million in the same period last year.

Gross profit margins also increased, from 50 per cent to 52.1 per cent.

Turnover rose from£58.4 million to£61 million.

Moss Bros chief executive Philip Mountford highlighted the re-investment in the Cecil Gee brand, which will culminate in the launch of a concept store at Lakeside next week.

'There remains substantial unrealised potential,' Mountford said. 'The Moss store refurbishments have been well received by customers and we are starting to re-invest in the Cecil Gee brand. Enhanced ranges, more effective promotions, improved merchandising and supply chain initiatives are providing the foundation for medium- term growth.'

Analysts forecast a healthy second half, supported by the retailer's report that like-for-like sales for the first nine weeks of the period were up 18 per cent.

Topics