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Interim Management Statement

15 Dec 2011 07:00

RNS Number : 0027U
Moss Bros Group PLC
15 December 2011
 



For immediate release 15 December 2011

MOSS BROS GROUP PLC

INTERIM MANAGEMENT STATEMENT - CONTINUED GROWTH

 

Release - 15 December 2011 @ 07.00 am

 

Moss Bros Group PLC ("the Group"), the UK'S No I Branded Suit Specialist, today issues its Interim Management Statement for the 19 week period from 31 July 2011 to 10 December 2011.

 

The Group has continued to trade well, in line with market expectations and is on course to deliver the anticipated levels of growth.

 

Highlights:

 

·; Like for like sales for the first 19 weeks of the second half continued strongly and, although now against tougher comparatives, were 10.5% up on last year.

 

·; Like for like sales for the 45 weeks to 10 December were 13.4% ahead of last year.

 

·; Total sales for the 45 weeks to 10 December were 18.5% ahead of last year.

 

·; Like for like cash gross profit was 7.9% ahead of last year in the 19 weeks to 10 December, despite the tough trading environment and increases in raw material cost prices.

 

·; Costs continue to be tightly managed.

 

·; The group has maintained a healthy cash balance during the period with the remaining proceeds of £12.3m from the Hugo Boss disposal, dependant on assignment of leases, all now received.

 

·; Our first 'new format' Moss pilot store which opened in Canary Wharf in May, continues to trade well and has been followed by further successful new format openings in recent weeks in Liffey Valley, Meadowhall and Bluewater, all incorporating the three core fascias of Hire, Retail and Bespoke. A number of test refits of existing stores are planned for early 2012, to assess the potential for further rollout across the estate.

 

The business continues to make good progress in tough market conditions but the Board is mindful of the uncertain macro-economic environment and its impact on consumer spending. Nevertheless, the Board remains confident in the outlook for the full year. 

 

Commenting on the outlook, Brian Brick, Chief Executive Officer, said:

 

"We are encouraged by the sales momentum throughout the business which has continued into this year, despite tougher comparatives.

 

The simplification of the business model, following the disposal of the Boss franchise stores and Cecil Gee stores, has enabled us to focus on the strengths of the core Moss brand. Selective refurbishment of our stores will allow us to leverage specific geographical areas of growth where our offer is strong and the returns compelling. We also continue to make good progress with our plans to implement our e-commerce offering and to explore ways of leveraging our customer data.

 

We enter this important trading period in good shape but ever mindful of the fragile nature of consumer confidence and we continue to develop the business, whilst managing it to reflect these conditions. The Board remains confident in the outlook for the full year."

 

The Group will announce its Preliminary Results on 29th March 2012.

 

For further information please contact:

Moss Bros Group Plc: 0207 447 7251

Debbie Hewitt, Chairman

Brian Brick, Chief Executive Officer

Robin Piggott, Group Finance Director

Buchanan: 0207 466 5000

Charles Ryland/Nicola Cronk/Gabriella Clinkard

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSFFSFMLFFSEIE
Date   Source Headline
28th May 20092:49 pmRNSPosting of Annual Report and Accounts
26th Mar 20097:00 amRNSPreliminary Results
19th Mar 200910:11 amRNSAppointment of Chief Executive
18th Mar 20099:23 amRNSChange in Shareholding
16th Jan 20095:22 pmRNSDirectorate Change
18th Dec 20087:00 amRNSDirectorate Change
4th Dec 20084:35 pmRNSPrice Monitoring Extension
1st Dec 200812:07 pmRNSchange in shareholding
1st Dec 200812:04 pmRNSInterim Management Statement
28th Nov 20083:40 pmRNSChange in Shareholding
28th Nov 200811:27 amRNSDisposal of Shareholding
27th Nov 200812:26 pmRNSNo Intention to Make Offer for Moss Bros
25th Nov 200810:13 amRNSChange in Shareholding
21st Nov 200811:19 amRNSEPT Disclosure
20th Nov 20085:10 pmRNSEPT Disclosure
19th Nov 20085:05 pmRNSEPT Disclosure
18th Nov 20084:58 pmRNSEPT Disclosure
17th Nov 200811:20 amRNSEPT Disclosure
17th Nov 20089:50 amRNSEPT Disclosure
13th Nov 200812:00 pmRNSHolding in Company
13th Nov 200810:49 amRNSEPT Disclosure
12th Nov 20085:07 pmRNSEPT Disclosure
12th Nov 20083:00 pmRNSStatement re Warbeck
12th Nov 200810:01 amRNSAcquisition of shares in Moss Bros
14th Oct 20083:14 pmRNSDirector's Share Dealing
7th Oct 200810:23 amRNSChange in Shareholding
30th Sep 200810:32 amRNSChange in Shareholder
25th Sep 20087:00 amRNSInterim Results
27th Aug 20088:59 amRNSBoard Changes
23rd Jul 20087:00 amRNSDirectorate Change
26th Jun 20087:00 amRNSAGM -Proxy
24th Jun 200810:11 amRNSChange in Shareholding
24th Jun 200810:11 amRNSChange in Shareholding
20th Jun 20089:00 amRNSRetirement of Chairman
13th Jun 20087:10 amRNSChange in Shareholding
13th Jun 20087:00 amRNSInterim Management Statement
10th Jun 200811:08 amRNSAnnual Report and Accounts
27th May 20081:04 pmRNSRule 8.1-Moss Bros Group plc
27th May 20087:00 amRNSOffer Update
23rd May 20085:56 pmRNSRule 8.3 - Moss Bros Grp plc
23rd May 200812:27 pmRNSRule 8.1- Moss Bros Group Plc
23rd May 200810:58 amRNSDirector/PDMR Shareholding
23rd May 200810:34 amRNSChange in Shareholding
23rd May 20088:58 amRNSEPT Disclosure
22nd May 20083:32 pmRNSRule 8.3- Moss Bros Group PLC
22nd May 20087:00 amRNSRule 8.3- Moss Bros Grp plc
21st May 20082:12 pmRNSRule 8.3- Moss Bros
20th May 20082:09 pmRNSRule 8.3- Moss Bros
15th May 20083:27 pmRNSRule 8.3- Moss Bros
14th May 20085:23 pmRNSRule 8.3- Moss Bros Grp plc

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