StockMarketWire.com - Moss Bros said its overall trading continues to improve on the prior year in line with market expectations, and that it is on course to deliver anticipated levels of growth.

Totoal sales for the first 18 weeks of the year improved. "After a slow start to the half as previously reported, and were 0.6% up on last year. Like-for-like sales were up 0.3% for the same period."

Like for like retail sales, including e-commerce, were up 2%. Hire sales were 6.2% lower.

"Following the launch of the new retail website platform in January 2013, e- commerce sales have accelerated sharply and for the first 18 weeks were up 138% on last year," Moss Bros said in a statement.

"E-commerce sales now comprise 3.3% of total sales compared to 1.4% for the same period last year. Traffic flow and conversion rates are on an improving trend and a mobile enabled site was successfully launched in May. The systems development project to create a fully integrated omni-channel customer experience continues, with the launch of a transactional Hire website planned for September 2013.

Looking ahead, Moss Bros said: "Although we remain cautious about the general economic environment we believe our strategy of refitting stores, investing in e-commerce infrastructure and focusing on our target market and customer offer will strengthen the Moss Bros brand and will maximise profitability. We are confident about our medium term growth prospects."


At 8:45am: [LON:MOSB] Moss Bros Group share price was +1.25p at 56.75p



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