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Moss Bros eyes international expansion following strong results for FY16

By Vivian Hendriksz


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London - Following another set of strong financial results for Moss Bros Group for its fiscal year 2016, the menswear retailer is said to driving forward its plans for international expansion.

Moss Bros posted a 5.7 percent increase in total revenue, excluding VAT, to 127.9 million pounds for the year ended January 28, 2017. "Moss Bros has posted another strong set of results despite being up against strong comparatives," commented Charlotte Pearce, Associate Retail Analyst at GlobalData. "The retailer’s ongoing investment in store refits – 11 in the period – has aided its performance along with its compelling product offer."

The formal menswear specialist investments in its multichannel operations are said to have paid off, as its online sales increased 15.7 percent, including VAT, for its FY16 and now account for 11 percent of its total sales. "Having introduced a fully responsive website in H2, mobile and tablet sales now account for an impressive 43 percent of total online sales, up six percentage points on last year," added Pearce.

"The retailer’s visually appealing website and unique editorial content will have helped its destination appeal, particularly among younger shoppers who the specialist is trying to target via its Moss London sub-brand, and steal customers away from the likes of Zara and Topman." Thanks to its strong online offering, Moss Bros has set its sights on expanding its online offer overseas prior to establishing a string of physical stores.

“The first point we would take in terms of a move overseas would be to extend our online presence," said Tony Bennett, Moss Bros Chief Financial Officer to Retail Week. "We already have two stores in the Middle East, which really for us are test-and-learn type stores. Online, we already have a US, an Australian, an Irish and a Swedish website and we will take small steps into other territories, probably through partnerships to begin with, just to understand which territories might have a desire for Moss Bros product."

“Once we are happy we can commercially expand into those territories, we will take our own website to the country. The online piece is relatively high on the agenda and is certainly a focus for the ecommerce team. For a physical presence, we need to prove the model for a little while longer.”

international expansion
Moss Bros