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Moss Bros has announced a slight improvement in its first quarter for 2018 despite its sales figures continuing to struggle.
Total like-for-like sales were 5.2% lower for the 15 week period to the 12 May 2018. However this is an improvement on the 6.5% decline that was reported in its last update on 21 March 2018.
The suit and menswear retailer also said that like–for-like hire sales on a ‘cash taken’ basis were down 4.9%, unchanged on the March decrease of 4.9%.
Moss Bros did manage a marked increase in e-commerce sales up 11% on last year, again an improvement on the March run rate of 4%.
Total e-commerce sales now comprise 13% of the company’s total sales for the 15 weeks, compared with 11% for the same period last year.
Commenting on the outlook, chief executive Brian Brick said: “Following a disappointing start to the year, our trading performance has, as anticipated, begun to improve, as a result of our improving stock availability. The wider trading environment however remains tough with a fragile consumer environment.
“We remain conscious of the economic headwinds which we face but will, as described in March, continue to invest in the areas that ensure we leverage our distinct position on the high street.
“We will shortly enter a key period of our trading year, with wedding season, school proms and Ascot. We are well placed with our core offer and levels of stock availability to maximise our share of our customers’ spend.”
