Moss Bros like-for-likes soar

In the 45 weeks to December 10, like-for-likes were up 13.4%.

The menswear retailer said it has “continued to trade well, in line with market expectations”. It said it is “on course to deliver the anticipated levels of growth”.

Total sales for the 45 week period rocketed 18.5%.

Moss Bros said its like-for-like cash gross profit was 7.9% ahead of last year in the 19 week period.

The retailer said costs continue to be tightly managed.

Moss Bros said its new pilot store which opened in Canary Wharf in May “continues to trade well”. Further stores have opened in recent weeks in Liffey Valley, Meadowhall and Bluewater. 

Moss Bros said it remains “mindful of the uncertain macro-economic environment and its impact on consumer spending. Nevertheless, the Board remains confident in the outlook for the full year”.

Moss Bros chief executive Brian Brick said: “We are encouraged by the sales momentum throughout the business which has continued into this year, despite tougher comparatives. 

 “The simplification of the business model, following the disposal of the Boss franchise stores and Cecil Gee stores, has enabled us to focus on the strengths of the core Moss brand. 

“Selective refurbishment of our stores will allow us to leverage specific geographical areas of growth where our offer is strong and the returns compelling.

“We also continue to make good progress with our plans to implement our e-commerce offering and to explore ways of leveraging our customer data.

 “We enter this important trading period in good shape but ever mindful of the fragile nature of consumer confidence and we continue to develop the business, whilst managing it to reflect these conditions. The Board remains confident in the outlook for the full year.”