Cashing in: Moss Bros to pay dividend for first time since 2007
29 March 2012
Suit retailer Moss Bros has reinstated its dividend after returning to profit after a four-year hiatus.
The improved performance was driven by a surge in like-for-like sales, improved margins, reduced costs and the sale of its Hugo Boss and Cecil Gee shops.
Moss Bros, whose core fascia is Moss, delivered a profit of £900,000 for the year to January 28 after a
loss of £5.8 million a year ago. Its revenues jumped by 15% to £101.2 million.
Chief executive Brian Brick today said that leases on nearly half of its 136 stores come up for renewal in the next three years.
He added: “We will exit stores where cannot agree the right rental terms.”
