MENSWEAR specialist Moss Bros has posted a fall in first-half profit as it revamps stores and adjusts for changing tastes in suit hire.
The retailer which has 133 stores, reported a nine per cent drop in pre-tax profit to £2 million in the 26 weeks to July 26, after it upped its refurbishment programme to nine stores from four in the same period a year ago.
But the firm, famous for hiring out morning suits, said total revenues were up 4.6 per cent to £55.8m, with like-for-like sales rising 6.4 per cent, as it boosted online sales and sold more products from stores that had already been refitted. Chief executive Brian Brick added that like-for-like trading also rose by six per cent in the first seven weeks of the second half of the year to September 13.
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