The menswear retailer Moss Bros is “heading out of fashion” with contemporary consumers and has a battle on its hands to turn around a deteriorating financial situation.
That’s the view of Julie Palmer from RBR Advisory, who comments that Moss Bros faces a tough challenge to increase its revenues and overall performance in the coming quarters.
“Moss Bros is currently out of fashion with today’s customers as 2018 saw a drop in revenue,” Ms Palmer has noted.
“With consumers tightening their belts while the uncertainty surrounding Brexit remains and competitors opt for a discount strategy, Moss Bros will struggle to regain its foothold on the high street.”
Moss Bros has cited unseasonable weather and the distracting success of the 2018 Football World Cup as factors that contributed to its posting of a £4.2 million pre-tax loss for the year to January 26th 2019.
There are close to 130 Moss Bros stores across the UK with profits across the business worth £6.7 million in its previous full year period.