Moss Bros hails sales growth as online and in-store improvements bear fruit

The formal menswear retailer said like-for-likes increased 5% in the 15 weeks to May 14 compared with the same period last year.

Moss Bros said that growth was driven by a 5.1% spike in retail like-for-likes, including its ecommerce business, with new ranges “performing well”.

Like-for-like hire sales advanced 4.7%, as Moss Bros’s total sales during the 15-week period climbed 3.3% year on year.

Moss Bros refitted three stores during the period, meaning 85 of its 124 stores are now trading under a new, refreshed format.

The fashion retailer’s online business also continued to grow, with sales up 9.7% compared with last year. Moss Bros said this was driven by the “ongoing development” of its retail and hire ecommerce platforms, as well as uplifts in conversion rates and average order values.

Moss Bros said online sales accounted for 10.7% of total sales in the period to May 14, compared with 10% during the comparable 15 weeks in 2015.

The business added it was “confident” of meeting market expectations over the wider year.

“This has been another good period of progress for Moss Bros and we remain confident about our growth prospects.”

Brian Brick, Moss Bros

Moss Bros chief executive Brian Brick said: “We are pleased with our progress. Retail sales and margins have shown further improvement, boosted by the ongoing improvement in our customer offer and the improvement in our store and online environments.

“The strength of our core offer meant that we were able to trade through the period without running a mid-season sale, which significantly enhanced gross margins in the period.

“This has been another good period of progress for Moss Bros and we remain confident about our growth prospects.”

Moss Bros is due to post its half-year results on September 28, with its AGM taking place at midday today.