Menswear retailer Moss Bros is to kick-start a store opening programme in 2004 - after a three-year freeze - as it goes back on the expansion trail.
The last Moss Bros opening was the Hugo Boss store in Leeds in November 2001. Chief executive Adrian Wright has instead focused on reducing stock, closing under-performing stores and streamlining operations since he took the helm at the retailer in March last year.
'In stage three (of the recovery programme) we will open new stores. The number of stores that we plan to open in the second half of 2004 is under review,' said Wright.
At present, the retailer is refining each store in its portfolio to ensure it matches local needs.
'About 75 per cent of stock is the same in each Moss Bros store. But our Canary Wharf store, for example, will stock more of the premium suits, whereas our Huddersfield store will have more of the cheaper offer. It's something that every retailer should do.'
All 104 Moss Bros stores have undergone this 'clustering' programme, and the exercise will continue until Christmas, Wright added.
Mike Godliman, director at consultancy Pragma UK, said Wright's strategy has prepared Moss Bros for expansion.
'They have gone back to what the Moss Bros brand stands for. They have moved away from the Code offer, which people didn't really understand, and have now got a strong range of formalwear that is consistent with the brand,' he said.
He added that there is not that much competition for formal menswear on the high street.
No comments yet