Moss Bros is upbeat, but not suited by the weather
Retailer Moss Bros has warned that cash-strapped consumers are delaying hiring suits for weddings, and recent trading had been dampened by the wintry weather.
But the men’s suit specialist remained “confident” about hitting market expectations for this year, after raising its profits and dividend in 2012.
Moss Bros said its underlying gross profit margin was lower by 2.4% in the first seven weeks of its financial year, and sales were down by slightly more.
Chief executive Brian Brick said: “A return to more seasonal weather would be good. When you wake up on March 22 and it’s snowing, it is not conducive to selling linen [suits].” He added that customers are delaying putting down deposits to hire suits, as “money is tighter”, but believes the bookings will be made closer to events such as weddings and balls.
Profits rose by £2.1 million to £3 million over the year to January 26. The total dividend was up 125% at 0.9p.
- 1 Pope Francis issues top 10 tips for happiness
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 Now diplomacy has failed, boycotting Israel might be the only way we can protect the people of Gaza
- 4 Israel's propaganda machine is finally starting to misfire
- 5 Kelsey Grammer forgives the man who raped and murdered his sister in 1975
Russell Brand accuses Sean Hannity of terrorism after aggressive Israel-Gaza debate
Pope Francis issues top 10 tips for happiness
Kenny Ireland dead: Benidorm actor dies aged 68
Justin Bieber posts Instagram photo of Orlando Bloom crying after Ibiza fight 'over Miranda Kerr'
Air Algerie AH5017 crash: Jet fell 30,000 feet in three minutes ‘due to violent storm’
The secret report that helps Israel hide facts
Land for gas: Merkel and Putin discussed secret deal could end Ukraine crisis
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >
iJobs Money & Business
£300 - £350 per day: Orgtel: Financial Analyst, Forecasting, Halifax, Banking,...
£500 per day: Orgtel: Business Architect - Banking - Bristol - £500 per day A...
£200 - £500 per day + competitive: Orgtel: I am currently working on a large p...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...