Stock recovery is welcomed at Moss Bros

SUIT retailer Moss Bros, which has three outlets in Northern Ireland, has said trading improved in the first quarter despite booking another steep fall in sales.

The group — which has warned over profits twice since the start of the year — saw likefor-like sales tumble 5.2% in the 15 weeks to May 12.

Total revenue was down 2.4%, however, the figures represent an improvement on the run rate seen in March of declines of 6.5% and 4.4% respectively.

Moss Bros — which has outlets at Castle Lane in Belfast, The Junction in Antrim and a factory outlet in Banbridge — pinned the better numbers on the easing of supplier woes and stock shortages which hampered trading since the end of last year.

The firm said: “The anticipated recovery in stock availability is on track and the stock position much improved from the early weeks of the current financial year.

“Retail sales, including e-commerce, have underpinned this improvement in performance,” it added.

The group had sparked a shares crash amid fears that results would be “materially lower”.