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Suit specialist Moss Bros reports solid first-half profit growth

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Suit specialist Moss Bros reports solid first-half profit growth

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(Reuters) – Formalwear specialist Moss Bros Group Plc <MOSB.L> reported a rise in comparable sales for the first half and said early responses to its autumn and winter ranges had been positive. The company, which owns about 125 stores across the UK, said on Thursday that group like-for-like sales for Jan. 29 to July 29 rose 2.8 percent from a year earlier, with sales growth from retail and e-commerce channels outpacing that of its clothing hire business. Profit before tax for the period rose 15.7 percent to 4.2 million pounds and revenue came in 4.3 percent higher at 66.6 million pounds. On current trading, the company, which is known for its black tie suits, said early responses to its 2017 autumn and winter ranges had been positive and comparable retail sales for the first eight weeks to Sept. 23 were up 3.5 percent.

(Reporting by Rahul B in Bengaluru; Editing by Susan Fenton)
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