StockMarketWire.com - Moss Bros said it has continued to trade well and is on course to deliver the anticipated levels of growth, in line with market expectations.

"We are encouraged by the trading momentum throughout the business which has continued into the second half of this year and we enter the important Christmas trading period in good shape," said CEO Brian Brick in a statement.

In an IMS for the 19 weeks to Dec. 7, Moss Bross said like-for-like sales 5.3% year on year. Like-for-like sales in the 45 weeks to Dec. 7 were up 2.2% on the prior year.

Total sales for the 45-week period were up 1.8%.

Gross margins for the half to date were 70 basis points below last year, due to hire sales accounting for a smaller proportion of total sales. The gross margin performance for the year would, as always, depend on the level of discounting in the critical sale period in the final six weeks of the financial year.

"We continue to develop the business by leveraging the strength of our brands and our operational capabilities. The Board remains confident in the outlook for the full year," said Brick.




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