You are here: Home - Uncategorized -

Moss Bros rues the winter heat as profits drop

Written by:

Moss Bros, the menswear retailer, has blamed the exceptionally mild winter for a 20% drop in profits. These fell to £5.3m for the year to 27th January, with like-for-like sales down 1.3%, the first drop for five years.

Moss Bros said that fewer people wanted warm winter coats and suits as the season had been so exceptionally mild, and added that trading continued to be tough, with sales down 1% in the first 10 weeks of the year.

Chief executive Philip Mountford said: “The menswear market remains highly competitive and after five years of growth the operating profits reflect a difficult year.

“While the mild winter knocked off £0.8m off profits, the World Cup last summer also deprived us of £0.5m as men did not come out to shop while the football was on.”

In the past year, Moss Bros has trialled a new concept in store layout aiming to maximise trading space and focusing on presentation. The seven stores that have been refurbished in this way have enjoyed a 10% rise in sales.

The firm intends to roll out the concept store look to 11 shops and apply “key elements” of the scheme to 13 others.

“We aim to be positive for the longer term,” Mountford said.

Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
‘Pathetic’ Portman merger bonus attracts brickbats

Members of Portman Building Society are furious at the ‘pathetic’ £200 merger bonus they will receive when the society is...