By Luke Tugby2020-01-16T07:30:00
Moss Bros has hailed “good progress” with its strategy despite a fall in sales during the second half of its financial year.
The formal menswear specialist posted a 3.2% drop in like-for-like sales during the 24 weeks to January 11. Total sales fell 3%.
Moss Bros’ retail sales, including its ecommerce and wholesale channels, dropped 1.8% on a like-for-like basis and 1.6% in total terms.
Online sales dipped 0.4%, while hire sales, which now account for less than 8% of Moss Bros’ overall revenues, slumped 17.7% on a like-for-like basis.
Moss Bros said new hire services “may be offered to address the challenges” faced by that channel. It hopes to update the market with its plans during the first half of its 2020/21 fiscal year.
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