Moss Bros has warned on profits and said it is unlikely to reach its full-year forecast because of declining footfall and sales.

In the 18 weeks to date, like-for-like sales at the menswear retailer slipped 1.5 per cent and total sales were down 3.7 per cent.

Moss Bros plans to reduce complexities within the business and maintains that it still has a healthy balance sheet, with no debt and a forecast balance for the end of the year in line with last year’s£16.6 million.

Moss Bros chief executive Philip Mountford said: “Our sales performance in the past two months reflects tough trading conditions in our markets. However, we enter this key period with well-developed retail plans, a good product range, better store environments and tighter stocks.”

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