Moss Bros sales increase 1.5 percent

business

Moss Bros sales increase 1.5 percent

business newsMay 15, 2019by Prachi Singh

For the 15 week period to May 11, 2019, Moss Bros Group Plc said that in spite of a tough trading environment, the group’s overall trading performance continued to show an improvement on prior year. The company said, both full price retail store sales and e-commerce delivered positive progress on last year, while hire continued to remain challenging. Total sales were up 1.5 percent on last year, while like-for-like sales were 0.2 percent lower for the same period.

Commenting on the update and outlook, Brian Brick, the company’s Chief Executive Officer, said in a statement: “We are making progress on last year, having recovered from the stock issues and improved our supply chain. Retail and e-commerce sales have shown further improvement against this backdrop. Although Hire continues to disappoint, it is clear this is reflecting a switch from hire to retail with the new Tailor Me range. The business remains on track to meet market expectations for the year.”

The company added that like–for-like retail sales, including e-commerce, were up 2.2 percent, reflecting a strong ecommerce performance alongside positive momentum in high street stores. Outlet store business, the company said, was more challenged, especially across the Easter period, when footfall was impacted by the warmer weather. E-commerce sales rose 18.7 percent on last year. Like–for-like hire sales on a ‘cash taken’ basis dropped 15.6 percent against last year. Tailor Me offer, however showed 32 percent growth in order value.

The company currently operates from 127 stores. Two stores including Bridgewater Park and Bexleyheath were closed during the period under review and Coventry store was relocated during the first 15 weeks of the year.

Picture:Facebook/Moss Bros