Moss Bros [IRDX RMOS] today reported a sharp rise in online sales, which it puts down to the continued development of its retail and hire websites.
The formalwear retailer and hire company said in a trading update today that ecommerce sales rose by 64.9% in the first 15 weeks of its financial year, to May 16 2015, compared to the same time last year. Total ecommerce sales represented 10% of total sales in the period, up from 6.5% at the same time last year. Within that, mobile accounted for 17% of retail e-commerce sales.
The growth of digital sales helped to lift sales across the business: in the first 15 weeks total sales grew by 6.4% on last time. Like-for-like retail sales, which include ecommerce, grew by 7.6%, while hire sales were up by 6.4%.
Chief executive Brian Brick said he was pleased with progress. “Ecommerce sales in the first 15 weeks of the year continue to grow, reflecting our continuing investment in systems and infrastructure,” he said. “This is another good period of progress for Moss Bros and we continue to remain confident about our medium term growth prospects.”
In Internet Retailing’s IRUK 500 research, Moss Bros is an IRUK Top100 company, ranked as a leading company in the customer dimension.