Clothing firm Moss Bros cuts its cloth
Menswear retailer Moss Bros said it was slashing costs across the business as it braces itself for a consumer spending slump after next month's Government spending cuts.
The group confirmed that a "comprehensive review" of its cost base was underway to simplify the business and help it weather wider economic conditions.
News of its overhaul came as the group posted wider interim pre-tax losses of £3.3m against £3m a year earlier.
But Moss Bros has seen a marked recovery in like-for-like sales, up 11.6% in the six months to July 31 - a trend that has continued into the second half. It will be reviewing all aspects of the business but is not expecting to make extensive cuts among its 1,600 store staff.