It has been reported that fashion retailer Moss Bros, who provide men’s formalwear, saw its full-year pre-tax profit increase 9% to £4.8 million.
The company has also reported that in the 53 weeks ended 31 January 2015 group like-for-like sales increased by 5.5%.
Chief executive of Moss Bros, Brian Brick said "We continue to make good progress in the delivery of our strategic priorities. The modernisation of the store portfolio is achieving the anticipated returns and we have exciting plans for the implementation of our multi-channel shopping environment.
“The adoption of the master brand "Moss Bros" and launch of our sub brands in Autumn 2014 have improved the resonance the brand has with current and potential customers of all age groups."
Moss Bros did see a fall of 3.6% in like-for-like sales the group’s hire business in the year, however, current trading in the first seven weeks of the new financial year has increased by 7.5%.
Mr Brick added “The early response to the 2015 Spring/Summer retail range is positive, and retail like-for-like sales are continuing to improve year on year. Hire is showing signs of recovery and we are well placed to maximise revenues in 2015 following a difficult two years for wedding related hire.
“Although the external market continues to be fragile, the business is on track to achieve market expectations in 2015/16."
