Moss rolls out profits warning

British menswear retailer Moss Bros today became the latest retailer to warn over profits after seeing weakened consumer spending on the high street.

The group said sales had taken a turn for the worse over the past seven weeks, despite an initially strong third quarter.

Less shoppers have been hitting the stores, dragging second half sales down 1.5% on a like-for-like basis so far, according to Moss Bros.

The firm said its key Christmas trading period may help boost figures, but cautioned it “seemed unlikely” full year profits would match market expectations given the recent trading decline.