Moss Bros plots return to profit

Menswear retailer Moss Bros posted a wider first-half loss but said trading was improving under a new management team.

The group, which also runs the Cecil Gee and Savoy Taylors Guild chains and the British franchise of Hugo Boss, said it made a pre-tax loss of £3.3m for the six months to 31 July.

That compared with a loss of £3m in the same= period last year - but the firm said it was on track to meet full-year forecasts.

The loss came despite a 7.9 per cent rise in revenue to £65.6m, with sales at stores open at least a year up 11.6 per cent.

Moss Bros said like-for-like sales in the first eight weeks of the second-half showed an improvement on last year, with gross margin slightly higher.

It has new deals with Ted Baker and French connection which it hopes will help bring profits back.