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.
- US apparel retailers' January 2016 sales roundup
- What the EU-Vietnam trade deal means for duties
- US apparel import growth led by Bangladesh
- Esquel backs Chinese Sea Island cotton production
- TPP trade pact in milestone signing by 12 nations
- Eco-friendly garment factory opens in Bangladesh
- Bangladesh factory fire renews worker safety fears
- Southeast Asia – a strategic sourcing review
- Sears looks to lift apparel via sourcing changes
- Clothing and sports chains in activewear battle
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Wearable technology: The future market potential for smart garments and e-textiles
- Global market review of denim and jeanswear – forecasts to 2021
- Wearable Technology Market by Product, Application, Type, & Geography - Global Forecast to 2020
- Practical Price Negotiation