January 11, 2019 / 7:35 AM / 2 months ago

Britain's Moss Bros 23-week comparable sales fall 1 pct

Jan 11 (Reuters) - British suit retailer Moss Bros Group Plc said on Friday its like-for-like sales for the 23 week period to Jan. 5 fell 1 percent, as the company was forced to give steeper discounts than planned in the post Black Friday period.

Moss Bros, which has more than 100 stores across Britain as well as an online presence, said trading gross margins for the period fell by about 2.6 percent, hit by increased promotional activity as well.

“Having originally sought to resist discounting pressures, we too have found the need to adopt a more tactical, discount-led pricing stance across all retail channels,” said Chief Executive Officer Brian Brick. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Shounak Dasgupta)

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