Men's high street retailer Moss Bros fell 15% after warning on current retail sales. The Company said it had seen lower levels of footfall in the last seven week, and that total sales for 44 weeks to 1 December were 1.1% ahead on a like for like basis.
As a result, Moss Bros said it was unlikely it will hit market expectations for the full year.
Moss Bros was quick to remind investors that with no debt and approximately £16.5 million in cash forecasted for the year end, it was still 'well resourced'
Philip Mountford, Chief Executive, said:
"Our sales performance in the last two months reflects the tough trading conditions in our markets. However, we enter this key period with well-developed retail plans, a good product range, better store environments and tight stocks. Using our strong positive cash position we are confident that continued investment in our stores and our offer will underpin future growth."