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Moss Bros annual turnover, EBITDA improve as lockdown ends

Moss Bros annual turnover, EBITDA improve as lockdown ends

As social gatherings resumed following the end of the UK’s third lockdown, Moss Bros announced a year-on-year gain in yearly turnover and an EBITDA profit.

In the year to January 2022, the retailer had a turnover of 93.1 million pounds, up 141 percent from the previous year but still 27 percent below pre-pandemic levels from two years prior.

Moss Bros’ EBITDA for the year was 17 million pounds, up from a loss of 11.7 million pounds the year before and 5.2 million pounds two years prior.

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Moss Bros CEO Brian Brick was pleased about the company’s results, saying the company was showing signs of recovery after a difficult period during the pandemic.

Pandemic recovery

“We have seen consumer behavioral changes like never before over the last two years,” Brick said. “Our ability to remain nimble and fulfill the growing desires and expectations of our menswear audience has been the key to our success as a business.”

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During the pandemic, Moss Bros, like many other formal clothing merchants, was hit hard as social gatherings and huge events like weddings and the Royal Ascot were canceled en masse.

However, since the Covid restrictions in the UK were lifted, the company has witnessed an increase in demand.

“I never doubted that people would appreciate the chance to dress up again with the opening of events and weddings,” Brick remarked.

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“Our multi-channel approach ensures a continuous concentration on retail, backed by a robust on-line offering,” he concluded. We’ve reinvented our product offering to meet the needs of today’s clients.”

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