UK: Moss Bros Narrows H1 Loss, Sees Strong H2
The company, which sells brands including Cecil Gee, reported a pre-tax loss of £3.7 million for the six month period, compared to £3.9m in 2001, and said same-store sales slipped four per cent.
It cited disruption caused by consolidating its existing brands and the cost of developing a new casual wear brand for a poor first quarter performance but it expects "substantially improved" results in the second half.
Chief executive Adrian Wright noted: "Following the actions that have been taken and on the basis of current trading conditions we anticipate moving to profitability in the second half of the current financial year."
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