Menswear retailer Moss Bros has seen a surge in its half-year profits, driven by improved strategy for sales and targeted promotions.
Figures show that pre-tax profit increased 30% to £3.7 million in the 26 weeks to 30th July. Meanwhile, like-for-like sales rose 4.9%, hire like-for-likes grew 2.8% and total sales increased 4.1% reaching £63.8 million.
Chief executive of Moss Bros, Brian Brick, commented: "The half year under review was another period of strong progress for the company.
“Having originally launched the Moss Bros sub brand line up at the start of the Autumn 2014 season, we have ensured that our customer offer is more clearly defined and more closely aligned with our target customer groups.
“Alongside this, the significant ongoing store refit programme, which will be substantially complete by the end of this financial year, has continued to steadily build equity in the Moss Bros brand.”
During this period, the retailer opened three new stores and refurbished seven stores, bringing the total to 89 that now trade in its new format.
Moss Bros has also revealed that trading in the eight weeks to 24th September was encouraging, with figures showing that like-for-like sales increased 3.7%.
