Moss Bros has posted broadly flat underlying profits at the half-year mark as the retailer posted a small uplift in overall revenue despite a slump in hire sales.
The menswear specialist posted flat adjusted profit before adoption of IFRS 16 and before tax in the period covering January 27 to July 27, down £0.2m in comparison with a profit of £0.2m in the same period the previous year.
Pre-tax losses widened to £2.7m in the period compared with £1.7m the previous year, which the retailer primarily attributed to an IFRS 16 impact of £1.1m.
Moss Bros revenue rose 1.4% year on year to £65.4m, as store like-for-like sales increased 0.6% and overall like-for-likes rose 2.9%.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.