Suit retailer Moss Bros Group has posted a 3.6% drop in sales for the 44 weeks to 29 November, and warned that full-year figures would be hit by tough market conditions.

In an interim statement released today (1 December), the retailer said its sales for the first 18 weeks of its second half were down 5.2% on a like-for-like basis.

Moss Bros' year to date retail gross margin was ahead of last year despite pricing pressures, it said.

Chief executive Philip Mountford said: "Our sales performance in the last two months reflects the very tough trading conditions in our markets.

"The business is ever vigilant to opportunities to reduce costs and maximise cash flow and proactively take steps to drive sales in what we expect to continue to be a challenging retail market."

The company said the challenging trading environment was likely to have an adverse impact on market expectations for the full year.

Last week Sir Philip Green's Warbeck Holding Company Limited said it would not be attempting a buyout for Moss Bros, despite purchasing a 28% stake in the men's wear chain earlier this month.