Moss Bros losses narrow

Menswear retailer Moss Bros saw losses narrow in the year to January 30 after seeing an improvement in trading in the second half of the year.The company, which specialises in suits, posted a pre-tax loss of £3.9m before exceptional items, compared with £5m the previous year. Revenues slipped to £128.7m from £129.7m.Like-for-like sales rose by 1.6% in the second half compared with a fall of 2.6% in the first half, the company said.Moss said it had been assisted by a strategy that involves focussing on its Moss, Moss Bros Hire, the Hugo Boss Franchise and Cecil Gee brands.It said it had seen strong trading in the early part of 2010, with like-for-like sales up by 15%.'We are confident that the operational progress that has been made in 2009 will drive the business towards profit and the strong and focused leadership of the Executive management team will further leverage the company's competitive position,' said acting chairman Debbie Hewitt.