Men's fashion retailer makes good progress
Menswear retailer Moss Bros has reported a positive set of interim results today on the back of a Cecil Gee store revamp and good sales of high-end menswear brand Hugo Boss.

Pre-tax profit for the six months to July 30 was£1.7 million, up from£800,000 last year. Like-for-like sales during the period were up by 3 per cent. Like-for-like sales climbed 1.5 per cent during the first 10 weeks of the second half.

Chief executive Philip Mountford said: 'The company made further progress in the first half, despite the challenging trading conditions. Profits more than doubled compared with last year.'

Numis retail analyst Steve Davies said: 'Moss Bros is gaining market share and the Moss fascia is performing particularly well. Current trading has slowed down - like-for-like sales in the first 10 weeks of H2 are up 1.5 per cent and gross margins remain ahead of sales. This performance is still very good in light of the current retail environment.'

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