Menswear group Moss Bros has said that it will beat forecasts for year after a strong Christmas trading performance was supported by on-going cost saving efforts.

Like for like sales for the 5 weeks to 11 January were up 12.9% on the same period last year, with stock levels at the year end expected to be in line with management estimates.
Commenting on the outlook, Brian Brick, chief executive officer, said:
"We are encouraged by trading over the key Christmas trading period.  The improved sales performance and continued strong cost management and rigorous clearance of stock, means that we will finish 2013/14 ahead of market expectations.

“An ongoing focus on cash management has allowed us to announce an accelerated and progressive dividend policy.

"I would like to thank all our staff for their continued hard work and commitment during this busy period.

"We remain conscious of the competitive trading environment but continue to implement our strategic plan to grow the business."