Moss Bros sales jump as debt cleared by Boss sale

SUIT specialist Moss Bros said yesterday that like-for-like sales were 8.2 per cent higher for the 15 weeks to 14 May.

Like-for-like gross profit strengthened during the period and was 9.8 per cent ahead of last year, the company said.

The disposal of the Hugo Boss franchise stores for £16.5m has helped the company become debt free.

The first new format Moss store was opened in Canary Wharf on 12 May. This is the first time the three core fascias of Hire, Retail and Bespoke have been presented in one store. The company also said it was reaping the benefits of a cost cutting programme.

Chief executive Brian Brick said store revamps and openings would be the priority rather than acquisitions.

He added: “The refurbishment of our stores and a more simple business model will enable us to focus on the strengths of the core Moss brand.”