10 Dec 2009 07:00
Release embargoed for 7am 10 December 2009
Moss Bros Group Plc
Interim Management Statement
Moss Bros Group PLC, the First Choice Menswear Specialist, today issues its interim management statement for the period from 2 August 2009 to 5 December 2009.
Marked improvement in trading with key Christmas and January Sale trading period still to come
Sales for the first 18 weeks of the second half are ahead 5.5% on a like for like basis
Like for like sales for the 44 weeks to 5 December ahead 0.5%
Total sales for the 44 weeks to 5 December ahead 2.2%
Year to date retail gross margin is ahead of last year despite a highly promotional market
The business has used its cash resources to maximise margin potential whilst maintaining a strong average cash balance
Three new stores have opened in the second half in time to take advantage of the key Christmas trading period
Subject to the current trend being maintained for the remaining 8 weeks of the year, the improved sales performance over the last five months is expected to have a materially positive impact on market expectations for the full year
Brian Brick, Chief Executive, said:
"During this year the business has made operational changes which have resulted in a markedly improved trading position; performance in our core competence of suits has been impressive with the extensive range of brands, sizes and styles appealing to both the younger, fashion conscious male as well as the stylish, classic gentleman. We are ever mindful of the uncertainty in trading conditions that lie ahead but the business is well placed to thrive in any economic climate."
Enquiries:
Moss Bros Group Plc : 0207 447 7239
Brian Brick, Chief Executive, Michael Hitchcock, Finance Director
Buchanan Communications : 0207 466 5000
Charles Ryland, Nicola Cronk, Miranda Higham