Despite Rising Sales, Moss Bros Cautious
Despite upholding current double-digit sales growth, Menswear chains Moss Bros still remains cagey over prospects for the year ahead.
As the turnaround under Chief Executive Brian Brick gathered velocity, the group reported comparable sales ahead by 12.6% in the first 16 weeks of the new financial year
Moss Bros, which also trades as Savoy Taylors Guild and Cecil Gee, said it was "pleased with the sales momentum" but added a note of caution.
It said, "The business continues to make good progress in tough market conditions, but the board is mindful of the macro-economic environment and its impact on consumer spending. We therefore remain cautious about the outlook for the year ahead”.
Weak comparatives had ensured improved sales growth in recent months and they are said to become more challenging in the second half.
Moss Bros has also recently aired concerns over the impact of the World Cup on trading.
The last time England played in a World Cup in Germany, shopping centers were empty of men when the football was on, Finance Director Michael Hitchcock remarked.
But analysts have high hopes for the group in the long-run as Mr. Brick leads a revival of the firm.
Moss Bros is launching its eagerly-awaited Moss Bespoke concept early next month, with a new flagship store in the City of London to cater for an increasing demand for customization among shoppers.
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