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Agree, but the way my 'luck' has been running....
SP has been on a downwards trend for some time with no obvious reason. Hopefully tomorrow's results will reverse the trend. As far as I can establish, trading has continued to perform well, with an increasing number of stores experiencing revenue increases following the rolling refurbishment programme aided by online sales.
Moss Bros gathers momentum Men’s formalwear specialist Moss Bros (MOSB) is firmly in fashion on Friday, up 6.6% to 104.5p on a better-than-expected annual general meeting (AGM) update. CEO Brian Brick unveils sales and margin improvements in the first quarter-and-a-bit at the heritage suits and shirts seller, founded by Moses Moss in Covent Garden back in 1851. You can read the latest update from London-based Moss Bros here. Over the fifteen weeks to 16 May, total sales strutted 6.4% higher year-on-year, including impressive like-for-like growth of 7.4%. In the core retail business including online, same-store sales were up 7.6%, ahead of analysts’ expectations with a boost from new season’s ranges. Web chart - MOSB - May 15 The designer of Moss Bros’ impressive turnaround whose profile was recently raised through participation in the ‘Undercover Boss’ TV show, Brick (pictured below) reports retail gross margin gains driven by a growing contribution from refitted stores and the earlier clearance of residual stock. Furthermore, after two disappointing years, he announces 6.4% growth in like-for-like hire sales, confirming the upturn in bookings for the 2015 wedding season flagged at the full-year stage continues. Brick has accelerated Moss’ profitability-enhancing store refit programme, while investment in IT systems and infrastructure is paying off handsomely. In fact, e-commerce sales surged almost 65% higher in the opening fifteen weeks, supported by ongoing development of the retail and hire websites. Total e-commerce sales now represent 10% of the top-line, up from 6.5% a year ago with mobile transactions increasing as a proportion of the e-commerce mix. CEO - Brian Brick Cantor Fitzgerald retail scribe Freddie George is maintaining his ‘buy’ recommendation and 120p price target and sticking with his full-year £5.4 million and 4.2p estimates for pre-tax profit and earnings respectively. He hints at upgrades to come, a possibility highlighted by Shares here in October, stating ‘we believe the company is currently trading ahead of our forecast assumptions’. George adds that ‘after a year of consolidation in FY15 as a result of an increase in marketing and online costs, we are forecasting earnings growth of 15% plus per annum over the next three years. He also writes: ‘The newly refurbished store recently re-opened on Oxford Street looks impressive’ and notes ‘the dividend yield approaches 6% with the support of a balance sheet which is forecast broadly to have £13 million of cash at end of January 2016.’
See the below link http://www.sharesmagazine.co.uk/news/moss-bros-gathers-momentum#.VWMExU9Vikq
http://www.sharesmagazine.co.uk/news/moss-bros-gathers-momentum#.VWMExU9Vikq
in the groove
Positive statement today. Increasingly the sp looks adrift of events.
Good trading statement plus nice dividend coming in June should see this push up in coming days.
No idea, but it will be back as the dividend will drive it up.
I am stumped trying to work out why there is nearly a 8% drop, when profits are up and directors rewarded!
Final numbers for Moss Bros (MOSB) showed a fourth successive year of profit and revenue growth, with like-for-like sales up 5.5 per cent. The men's suit specialist is also powering ahead with a store re-fit programme in a bid to capitalise on a rebrand of its major product lines last autumn. Management is putting faith - and a lot of money - into these store refurbishments. The launch of six new outlets and the refit of a further 14 accounted for much of the £8m of capital expenditure in 2014. That figure will increase to £14m this year as Moss Bros upgrades 27 stores and increases its investment in inventory within the hire division. This new hire stock, which includes a range of lounge suits, is already helping to buck business in the division this year after like-for-like sales fell by 3.6 per cent in 2014 - the second successive year of decline. Meanwhile, revenues in both the retail and hire divisions were bolstered by e-commerce. Online sales grew by 59 per cent last year, and now account for 7.8 per cent of group turnover. Analysts at Peel Hunt are forecasting adjusted pre-tax profits of £5.7m and EPS of 4.4p this year, rising to £6.7m and 5.2p in 2016-17.
Positive results with announcement of significant acceleration in store refurbishment programme in 2015/16. Slight disappointment is reduction in final divi, compared with 2013/14, however total annual divi shows increase over previous year. All looks fair for continued progress.
Smart clothes retail and hire company Moss Bros is using its strong balance sheet and cash flows to revamp its business while at the same time funnelling plenty of capital to shareholders through its generous dividend payouts. The company embarked on a five-year store-refit programme in 2012 which is producing encouraging results. At the time of Moss Bros's last trading update, like-for-like sales for the first 19 week of the second half were up 7.8 per cent, which marked an improvement on the first half. That said, discounting and a reduction in the proportion of sales coming from Moss Bros's hire business reined in gross margins, although the impact on earnings was offset by reduced operating costs. As well as the store refits, sales are being boosted by the launch of new brands and by investment in the group's online shop. Given that only 7.4 per cent of sales are currently generated over the internet, there is plenty of room for e-commerce growth. Prospects for the dividend also look rosy due to management's intention to return excess cash to shareholders and the fact that the company has net cash equivalent to about 20p per share.
The Trading update Is due although the winter figures were not as hoped due to the milder weather . I understand that it could be that the company have traded positively. This coupled with a fairly healthy dividend is the reason for the share price upwards movement. Fingers crossed.
that dividend yield when the results come out on 25th March, can't wait.
Simon's magic wand does the trick again
Last January's TU was a spur to the sp and the coming one may well have a comparable effect. Good divi, with cash on the balance sheet, to support it allied to what appears to be solid trading in stores and online suggest the potential is far more upside than downside.
I understand that figures at the stores are better than expected so far in the run up to Christmas. The company is moving quickly onto the buy on line market and have employed a team to put this into place with extra strong backup . I think that this is one to watch Maybe the next Next Monday. I will buy. GLa DYR Robbie
IMS on 11 December awaited with expectation that it will deliver an early Xmas present for shareholders. Recent visits to a few Moss stores suggests that recent trading has been solid.
is like visiting an old friend !
thats exactly what Simon Thomson says tday. Uncanny.
a sex machine get on up
Doesnt look right - toppy TA - flat PBT% - negative EPS% - why so loved? 80-90p a bit more realistic surely? I suspect it would tumble but the MMs are blocking with a stock lending charge - which could possibly mean they (or their major clients) dont want to be left holding the baby DYOR as usual LM
The redoubtable Simon Thompson says these are still great value at 122p.......more-or-less reiterates what FiFi11 said on 1st April
Wouldnt have thought so here, depends on what you mean by much further north. Lego is the ex div expert.