StockMarketWire.com - Suit retailer Moss Bros Group said its sales had risen 1.5% in the first 15 weeks of its financial year, putting it on track to meet its expectations for the full year.

On a like-for-like basis, sales for the period between 27 January and 11 May were down 0.2%

Like-for-like retail sales, including e-commerce, were up 2.2%, which the company said reflected a strong e-commerce performance alongside positive momentum in high street stores.

'We are making progress on last year, having recovered from the stock issues and improved our supply chain,' chief executive Brian Brick said.

'Retail and e-commerce sales have shown further improvement against this backdrop.'

'Although hire continues to disappoint, it is clear this is reflecting a switch from hire to retail with the new Tailor Me range.'

'We are building momentum in new channels to market and we are seeing a growth in new customers as a result.'

'Tailor Me continues to gather momentum and is showing 32% growth in order value versus last year.'

'We are focused on the peak phase of our trading year, encompassing; wedding season, prom and Ascot.'

'The wider trading environment remains both highly competitive and price sensitive, but we are well placed with our strong core offer and levels of stock availability.'


At 9:20am: [LON:MOSB] Moss Bros Group PLC share price was +0.55p at 21.95p



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