Moss Bros, a British clothing company, has reported that its like-for-like sales for the fiscal 2015-16 increased by 8.2 per cent. E-commerce sales in the reporting period surged by 36.3 per cent, accounting 10 per cent of total sales.
According to the company release, total revenue was up 5.5 per cent on the previous year to £ 121.1 million. Underlying overall gross margin too zoomed by 1.5 per cent in the year to 59.8 per cent as against 58.3 per cent. EBITDA at Moss Bros increased by 27.8 per cent to £ 12.4 million versus £ 9.7 million in the previous fiscal.
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“We continue to make strong progress in the delivery of our strategic priorities. The modernisation of the store portfolio, which is nearing completion, is achieving the anticipated returns and we have well developed plans for the implementation of our multi-channel shopping environment. We have added to the strength of the management team and we are well placed to take advantage of these opportunities to accelerate our growth,” said Brian Brick, Chief Executive Officer of the menswear brand, adding, “The early response to the 2016 Spring/Summer retail range has been positive and retail like-for-like sales and gross margins are continuing to improve year on year. The broadening of our Hire offer to include lounge suits is underpinning a positive start to the 2016 hire season.”
Set-up in 1851, Moss Bros Group is one of the UK’s leading menswear brand, specializing in dress wear for formal occasions. The company has more than 150 stores across the UK.