Moss Bros expects to beat annual forecasts

Formal wear specialist Moss Bros said it now expects to exceed market expectations for the 2012/13 financial year after strong Christmas trading.

Formal wear specialist Moss Bros said it now expects to exceed market expectations for the 2012/13 financial year after strong Christmas trading.

Like for like sales for the 24 weeks to January 12th 2013 climbed 2.7% on the same period last year.

Like for like cash gross profit for the period rose 9.5% from last year.

Moss Bros said careful management of the level of discounting over Christmas and continued tight cost control boosted company profit.

Stock levels at the year-end are expected to be in line with management estimates, it added.

Chief Executive Officer Brian Brick commented: "We are encouraged by trading throughout the business over the key Christmas trading period. Close control over discounting to clear stocks, coupled with continued strong cost management, means we will finish 2012/13 ahead of expectations."

"We remain conscious of the fragile trading environment but continue to rigorously implement our strategic plan to turnaround and grow the business."

CJ

Recommended

Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022
Why you should short this satellite broadband company
Trading

Why you should short this satellite broadband company

With an ill-considered business plan, satellite broadband company AST SpaceMobile is doomed to failure, says Matthew Partridge. Here's how to short th…
23 Sep 2022
Share tips of the week – 23 September
Share tips

Share tips of the week – 23 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
23 Sep 2022
Momentum investing – and why price matters more than anything else
Investment strategy

Momentum investing – and why price matters more than anything else

The recent fashion for momentum investing, with investors piling into expensive growth stocks, is nothing new, says Merryn Somerset Webb. And the dang…
21 Sep 2022

Most Popular

Beating inflation takes more luck than skill – but are we about to get lucky?
Inflation

Beating inflation takes more luck than skill – but are we about to get lucky?

The US Federal Reserve managed to beat inflation in the 1980s. But much of that was down to pure luck. Thankfully, says Merryn Somerset Webb, the Bank…
26 Sep 2022
The pick of this year's best-performing investment trusts
Investment trusts

The pick of this year's best-performing investment trusts

Market conditions haven’t been easy, but these investment trusts have delivered strong growth, says David Stevenson.
23 Sep 2022
The hidden cost of employee share schemes
Investment strategy

The hidden cost of employee share schemes

Paying employees in shares comes at a cost to investors – but it isn’t always easy to see how much, says Stephen Clapham.
26 Sep 2022