Suit specialist Moss Bros reports sales growth

By

Barbara Santamaria

Published
Sep 28, 2016

British retailer Moss Bros, “the first choice for men’s tailoring”, announced on Wednesday the financial results for the first half of the year.

Chief Brian Brick said the 26 week period delivered strong progress for the company, with like for like sales up 4.9% and total sales amounting to £63.8m, up 4.1% on last year.

Both retail and hire sales increased in the period on a like for like basis, while e-commerce sales were up 7.7%.

The company has made significant efforts to improve the brand identity, including an ongoing store refit programme and better defined brands.

“Having originally launched the Moss Bros sub brand line up at the start of the Autumn 2014 season, we have ensured that our customer offer is more clearly defined and more closely aligned with our target customer groups. Alongside this, the significant ongoing store refit programme, which will be substantially complete by the end of this financial year, has continued to steadily build equity in the Moss Bros brand,” said Brian Brick.

Retail gross margin was up 3.3% as sell through rates improved and the mid-season was removed Overall gross margin increased to 61.9%.

Pre-tax profit jumped by 30% to £3.7m.

The label’s Autumn Winter collection has been well received, as well as the new ‘Tailor Me’ service, which offers a simplified set of bespoke options for a custom made suit. The service was launched during the first half across the majority of stores with positive customer reaction.

Trading in the first weeks of the second half of the year has been positive, with like for like sales growth of 3.7%.