E-commerce Sales Boost Moss Bros’ Performance

  • Moss Bros reports slight improvement in first quarter trading for 2018
  • Total like-for-like sales down 5.2% compared to the same period last year
  • Like-for-like hire sales remain stagnant at 4.9% decline
  • E-commerce sales up 11%, now comprising 13% of total sales
  • CEO Brian Brick remains optimistic about key trading periods ahead

Menswear retailer Moss Bros has reported a slight improvement in its first quarter trading for 2018, despite ongoing sales struggles. Total like-for-like sales were down 5.2% for the 15 weeks to May 12th, an improvement from the previously reported 6.5% decline on March 21st. Like-for-like hire sales remained at a 4.9% decrease. E-commerce sales increased by 11%, up from a 4% increase in March and now account for 13% of total sales, compared to 11% during the same period last year. CEO Brian Brick remains optimistic about key trading periods such as wedding season, school proms, and Ascot, stating that the company is well-positioned with stock availability to maximize customer spend.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Moss Bros’ financial performance and includes quotes from the CEO, Brian Brick, which adds credibility to the report.
Noise Level: 3
Noise Justification: The article provides relevant information about Moss Bros’ financial performance and outlook, but it lacks in-depth analysis or exploration of long-term trends or possibilities. It also does not hold powerful people accountable or explore consequences on those who bear the risks.
Financial Relevance: Yes
Financial Markets Impacted: Moss Bros
Financial Rating Justification: The article discusses the financial performance of Moss Bros, a suit and menswear retailer, which impacts its stock value and potentially affects other retail companies in the same industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk