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Moss Bros sales grow 5% in first quarter

Published 20/05/2016

Moss Bros has bucked the trend, reporting sales growth
Moss Bros has bucked the trend, reporting sales growth

Moss Bros has bucked the trend of its high street peers and posted strong sales growth for the first quarter.

The suit retailer said that like for like sales grew 5% in the period, driven by online growth and sales at its suit hire service.

Chief executive Brian Brick said the strong figures were helped by Moss Bros not having to run a sale.

He said: "The strength of our core offer meant that we were able to trade through the period without running a mid-season sale, which significantly enhanced gross margins in the period.

"Hire sales continue to show improvement and e-commerce sales in the first 15 weeks of the year have also grown, reflecting our investment in systems and infrastructure."

Total sales across Moss Bros' 124 stores were up 3.3% and online sales rose 9.7%.

The results contrast a spate of negative high street sales data, much of which has shown that fashion retailers have borne the brunt of flagging consumer spending in recent months.

In March Next chief executive Lord Wolfson warned that the retail sector is facing its toughest year since the financial crisis and earlier this week Burberry reported a 10% plunge in profits.

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