Men’s outfitter Moss Bros says life is “very tough”, due to cost pressures from wages and the weaker pound. But it has still turned out a 5 per cent rise in sales.
In its results covering the six months to the end of July, the high-street chain responsible for suiting and booting men for weddings said sales were boosted by a rise in e-commerce, helping pre-tax profits to rise by 15.7 per cent to £4.2m on the year in what it describes as “one of the most competitive retail environments which we have seen for some time”.
CEO Brian Brick said:
We are pleased with the performance of Moss Bros during the first half in what was a very tough trading environment.
We remain acutely aware that market conditions remain tough, with a highly competitive retail landscape set to continue alongside an unpredictable economic back-drop. There are significant cost headwinds, driven by National Living Wage, the Apprenticeship Levy and weaker sterling.
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