Moss Bros loss mounts
MEN'S fashion retailer Moss Bros Group is heading deeper into the red after blaming the worsening trading environment for a profits warning yesterday.
The company said the tough conditions of the past two months would have a "materially adverse impact" on its full-year results after reporting underlying sales down 5.2 per cent in the previous 18 weeks.
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Moss's stockbroker Altium increased its forecast losses from £1 million to £5 million.
Bhs billionaire Sir Philip Green last week sold a 28.5 per cent stake in Moss he had held for two weeks to suitmaker Simon Berwin after deciding not to launch a takeover bid.