Mar 28, 2010
Moss Bros loss narrows, trading improving
Mar 28, 2010
LONDON, March 25 (Reuters) - British menswear retailer Moss Bros Group (MOSB.L) reported a narrower pre-tax loss for 2009 on Thursday 25 March and said recent trading was ahead of a year ago.
The company, which runs the Moss, Cecil Gee and Savoy Taylors Guild chains and owns the British licence for brands such as Hugo Boss, reported a pre-tax loss of 3.9 million pounds before exceptionals for the year to end-January 2010.
Moss Bros, which said it is not proposing a final dividend, reported revenue of 128.7 million, down slightly from last year.
Current trading was strong, the retailer said, with like-for-like sales in the first seven weeks up 15 percent and gross profit up 12 percent.
"Current trading reflects strong like-for-like growth and our continued focus on the operational priorities, with the support of our strong balance sheet, gives me great confidence that we will fully leverage the potential of this business," Chief Executive Officer Brian Brick said in a statement.
Moss Bros shares closed at 20.75 pence on the London Stock Exchange on Wednesday 24 March.
(Reporting by Neil Maidment; Editing by Rosalba O'Brien)
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