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Moss Bros lowers the margins in a tough Christmas marketplace

Moss Bros lowers the margins in a tough Christmas marketplace

Fri 11 Jan 2019 07:17 by ukcitymedia.co.uk about : trading updates - 0 Comments - 426 words


Moss Bros Group PLC ("the Group") today issues the following Trading Update for the 23 week period from 29 July 2018 to 5 January 2019, including the Christmas trading period. 

 

The Group continued to make progress in a tough marketplace, having fully resolved all of the stock issues that the business faced with its supplier consolidation in the first half of the year. Total sales improved year on year, despite the challenging consumer backdrop and there has been an improving trend in the fourth quarter. However, the period post Black Friday required deeper discounting than planned, in order to remain competitive, with gross margin rates impacted.

 

Physical stores, notably those in the most high profile retail locations, underperformed as a result of reduced customer footfall. More positively, the strong momentum of our E-commerce channel, up 27.8% on the year, has been maintained throughout the period.

 

The Group anticipates delivering performance in line with current revised market consensus of an adjusted loss of £0.6m.

 



These articles are summaries / highlights and dont always include all financial news updates. Check at company website INVESTORS INFORMATION for full published results.


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