Menswear retailer's like-for-likes on the rise
Like-for-like sales at menswear retailer Moss Bros rose 4 per cent in the fourth quarter to January 28 and profits are in line with market expectations of£6.2 million, the company said in its pre-close trading statement.

Total like-for-like sales for the year are up 2.5 per cent and gross margin percentage for the year has increased by 0.5 per cent.

'The company has continued to make good progress and we have had a strong final quarter. Our performance has improved on that reported on October 12 2005 when like-for-like sales were flat on the previous year for the first 14 weeks of the second half,' said chief executive Philip Mountford.

'The business continues to outperform its sector and we expect to see positive like-for-like sales during the next 12 months, while continuing to improve gross profit through further sourcing opportunities and controlling costs. We believe the company now has a solid and robust platform on which to expand further during 2006, with at least another 10 stores planned.'

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