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Moss Bros CEO: Our stores and website are ready for our peak period

Moss Bros CEO, Brian Brick, has said that the formalwear business is growing sales online and in store as it approaches its peak period of trading over the spring and summer.

In a trading statement released today (15 May), he said the business has recovered from last year’s stock and supply chain issues, which at the time were attributed to the consolidation of the group's supplier base in response to sterling weakness.

For the 15-week period between 27 January 2019 and 11 May 2019, total sales were up by 1.5% year-on-year. Like-for-like sales were down by 0.2%, although this was largely attributed to its under-performing hire business.

Like-for-like retail sales, which includes eCommerce, were up by 2.2%. Indeed, eCommerce was the driving force behind the sales growth – it was up 18.7% on last year and now represents 15.5% of total sales.

Brick commented: “We are building momentum in new channels to market and we are seeing a growth in new customers as a result.

“Tailor Me continues to gather momentum and is showing 32% growth in order value versus last year.”

He added: “We are focused on the peak phase of our trading year, encompassing; wedding season, prom and Ascot. The wider trading environment remains both highly competitive and price sensitive, but we are well placed with our strong core offer and levels of stock availability.”

Moss Bros will announce its interim results on 24 September 2019.

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