Moss Bros in office suit push

first_img whatsapp Tags: NULL KCS-content MENSWEAR retailer Moss Bros is hoping demand for suits from office workers will help it narrow full-year losses.Moss Bros made a pre-tax loss of £3.3m for the six months to 31 July versus a loss of £3m in the same period last year, as costs increased faster than sales.However, revenue rose 7.9 per cent to £65.6m.Chief executive Brian Pick said: “If it’s tough [the jobs market] people will look after themselves for work. “They do not want to stand out as the scruff in the office.”Pick said he was encouraged by trading in the second half so far and was on track to meet internal expectations for the full year. He added: “Our black tie hire and sales business has improved as companies are spending on parties and hospitality again. It’s nothing like it was before the downturn but its is improving.”Moss Bros is also trying to attract a younger customer that is less impacted by the economic downturn. It also added its wedding business was proving resilient.“The weddings that will be booked for next year will still happen. If people are going to have tailcoats they will have tailcoats,” said Pick.Prior to yesterday’s update shares in the group, which owns the Moss, Cecil Gee and Savoy Taylors Guild chains and runs the UK franchise operation of Hugo Boss, had lost a quarter of their value over the last year. Moss Bros said like-for-like sales in the first eight weeks of the second-half showed an improvement on 2009, with gross margin slightly higher. The company also said it was reviewing its costs. Wednesday 29 September 2010 10:41 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Moss Bros in office suit push center_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Show Comments ▼ Sharelast_img read more