March 27, 2018 / 7:01 AM / 3 months ago

UK's Moss Bros reports fall in annual profit on supply issues

March 27 (Reuters) - British apparel retailer and tailoring services provider Moss Bros Group Plc on Tuesday reported a drop in annual profit due on tough retail environment and supply issues and said retail comparable sales in the start of the new financial year also declined.

The group’s profit before tax fell 6.1 percent to 6.7 million pounds ($9.5 million) for the year ended Jan. 27, hurt by significant stock shortages and poor implementation of a project to consolidate suppliers, it said.

Retail like-for-like sales were down 6.7 percent in the first eight weeks of the new financial year, the retailer said. ($1 = 0.7023 pounds) (Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri)

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