Moss Bros, the popular menswear retailer, has recently revealed a decline in revenues in its trading update for the 28 weeks leading up to January 11. The company witnessed a decrease of 3% in total sales, with like-for-like sales falling further by 3.2%. Unfortunately, even online sales experienced a slight decline of 0.4%, although they still accounted for 17% of the group’s total revenue during the specified period.

While the news is far from encouraging, Moss Bros remains hopeful for the future. Although suit hire sales plummeted by 17.7% on a like-for-like basis, the company has witnessed significant growth in its Tailor Me orders, which have increased by an impressive 55% compared to the previous year.

Moss Bros has been adopting a strategy of focusing on full-price sales and actively reducing old season stock, resulting in improved gross margin rates. CEO Brian Brick acknowledges the various challenges that lie ahead, such as weak consumer confidence and a decline in footfall in UK shopping destinations. However, the company remains confident that it is moving in the right direction to achieve long-term success.

In terms of financial expectations, Moss Bros revealed that it anticipates reporting a full-year adjusted loss before tax of approximately £1m.

***Useful Links:***

1. [Moss Bros Official Website](https://www.moss.co.uk/) – A visit to the official website of Moss Bros will provide you with more information on the company’s latest collections, promotions, and services.

2. [BBC Business News – Moss Bros Sales Down](https://www.bbc.co.uk/news/business-51207062) – This informative article from BBC Business News discusses the decline in Moss Bros’ sales and provides additional context on the current challenges faced by the company.