9 Dec 2010 07:00
Release embargoed for 7am
9 December 2010
Moss Bros Group Plc
Interim Management Statement
Moss Bros Group plc, ("the Group"), the UK's No 1 Branded Suit Specialist, today issues its interim management statement for the period from 1 August 2010 to 4 December 2010.
·; The positive momentum established in the first half has been maintained, with the key Christmas and January Sales trading period still to come.
·; Sales for the first 18 weeks of the second half were ahead 8.3% on a like for like basis.
·; Like for like sales for the 44 weeks to 4 December were ahead 10.2%.
·; Total sales for the 44 weeks to 4 December were ahead 8.9%.
·; Retail gross margin is ahead of last year in the 18 weeks to 4 December, despite the highly promotional market continuing.
·; The comprehensive review of the cost base of the business mentioned in our Half Year Report is well under way and a full update will be given when the Preliminary Results are announced on 30 March 2011.
·; Stock and cash remain tightly managed.
Brian Brick, Chief Executive, said:
"Whilst the economy continues to be fragile, the Group's sales have traded well ahead of last year and this trend has continued so far throughout the second half, although the out turn for the full year depends on trading during the important Christmas period. In addition, we have continued to make good progress on our strategic priorities of improving the calibre of store management, improving operational processes, reviewing the look and product mix of the core Moss stores and testing our innovative Moss Bespoke concept, which we will begin to roll out in the early part of 2011. The comprehensive review of the cost base of the business is well underway and we are on track to drive cost out of the business and simplify our operating model.
We enter this key trading period in the best shape we have been in for some time but we are mindful of the fragile nature of consumer confidence. We are managing the business to reflect these conditions and the Board remains confident in the outlook for the full year."
Enquiries:
Moss Bros Group plc: Brian Brick, Chief Executive Officer Robin Piggott, Finance Director | 0207 447 7200 |
Buchanan Communications: Charles Ryland Christian Goodbody
| 0207 466 5000 |