Menswear retailer Moss Bros expects to beat full-year profit forecasts after posting a surge in Christmas sales.

The retailer reported a 12.9% increase in like-for-like sales for the five weeks to January 11, while like-for-like sales in the 24 weeks to the same date rose 7.3%.   

Like-for-like cash gross profit for the 24 weeks to 11 January 2014 was 5.6% ahead of last year.

Moss Bros chief executive Brian Brick said: “We are encouraged by trading over the key Christmas trading period. 

“The improved sales performance and continued strong cost management and rigorous clearance of stock, means that we will finish 2013/14 ahead of market expectations.

“We remain conscious of the competitive trading environment but continue to implement our strategic plan to grow the business.”

The retailer also said it would pay a dividend at year-end.

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