Moss Bros has reported first-half pre-tax losses of £3m compared with a £2.2m loss for the same period last year.

The menswear retailer, which runs the Moss and Cecil Gee chains, says it will meet its expectations for the full year.

Its share price has risen by 50% over the last three months, significantly outperforming general retailers, on hopes of a recovery.

Although total sales fell by 0.6% to £60m — down 2.6% on a like-for-like basis — the company has succeeded in maintaining a 56% gross margin, it says.

Moss Bros added that like-for-like retail sales in the first eight weeks of its second half have continued to improve.

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