Snappy dressed profits

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Men's tailoring group Moss Bros
Men's tailoring group Moss Bros

Men’s tailoring group Moss Bros which has a store in Cheltenham has returned some snappy results with profit before tax up 20.3 per cent at £7.1million.

Total group revenue, excluding VAT, increased by 5.7 per cent to £127.9million in the year to January 28, 2017 compared to the previous year.E-commerce sales were up 15.7 per cent compared to a 36.3 per cent rise the previous year.Online business now accounts for 11 per cent of total sales. Commenting on the results and outlook, Brian Brick, chief executive officer, said: “We are very pleased with the performance of Moss Bros, as we made good progress towards the achievement of our strategic goals. “The modernisation of the store portfolio is nearing completion and continues to achieve anticipated returns. We have made a good start to the implementation of our omni-channel shopping proposition and will ensure that the appropriate investments are made in both our systems and our people during 2017 and beyond, to leverage the benefits of this important area. “He added: “We continue to add to the capabilities of the management team and we are well placed to accelerate our growth, in spite of continuing tough market conditions and the ongoing headwinds which we face as a result of increasing input costs in many areas. “The early response to the 2017 Spring/Summer retail range has been positive and retail like-for-like sales are continuing to improve. The Group’s trading performance continues in line with the Board’s expectations.”