Losses at menswear specialist Moss Bros widened during the retailer’s first half, when sales also fell.

Losses at menswear specialist Moss Bros widened during the retailer’s first half, when sales also fell.

Moss Bros posted an interim pre-tax loss, before one-off items, of£1.6 million versus£700,000 last time.

Group like-for-likes fell 2.6 per cent during the period and total sales were down 2.9 per cent to£61.1 million.

But the retailer reiterated its faith its in its strategy and reported that trading has improved in the second half.

At Moss Bros' “mainstream” division, comparable store sales slid 6.1 per cent, partly because of the poor performance of outlet shops.
At the “fashion” division, like-for-likes edged up 0.4 per cent.

In the first eight weeks of the second half, all of Moss Bros’s fascias have delivered like-for-like uplifts and group comparable store sales “were level with the comparative period last year”.

Moss Bros, which earlier this year was a bid target of Icelandic investor Baugur and appointed David Adams as chairman in July, aims to improve performance by increasing Far East sourcing, overhauling stores and improving stock levels.

Chief executive Philip Mountford said: “The board has been strengthened and the company is in a good position to take advantage of a shift in customers’ desires towards higher priced contemporary and fashionable formal wear.

“Recent trading has shown the branded strength and customer appeal of the fascias we operate and we have no reason to alter the market’s full year expectations."

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