Menswear chain Moss Bros has reported a sharp drop in sales and warned tough trading conditions will leave annual profits short of expectations.
Moss Bros, which has a store in Market Place, Bolton said like-for-like sales were down 5.2 per cent for the past 18 weeks, compared with a 2.6 per cent fall in the first half of its financial year.
Shares fell by 12 per cent yesterday as the company said the challenging conditions in the retail sector were likely to have a “material adverse impact” on market expectations for its full-year profits.
Chief executive Philip Mountford, said the retailer would now focus on reducing costs in the business.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article