UK: Moss Bros to beat FY market expectations
Men's formalwear specialist Moss Bros Group expects to finish its fiscal year ahead of market expectations thanks to accelerated trading over the Christmas period.
In a trading update for the 24 week period ended 11 January, like-for-like sales were up 7.3% on the same period last year.
CEO Brian Brick 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.
"We remain conscious of the competitive trading environment but continue to implement our strategic plan to grow the business."
Reuters analysts on average expect the firm to post a pretax profit of GBP3.15m (US$5.1m) for the full year to 25 January.
The group will announce its preliminary results on 26 March.
Men's formal wear specialist Moss Bros has revealed plans to replace three of its brands as part of the group's ongoing turnaround strategy....
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