Mar 21, 2018

Carpetright, Mothercare and Moss Bross highlight high-street strain

The company said earlier this month it would make a loss for the year to April, having already cut its profit outlook for the year by two-thirds after Christmas. Moss Bros, which sells and hires out mens' formal clothing, said in a trading update that its profit for the year to January 2019 would now be "At a level materially lower than current market expectations". British retailers have endured their worst start to the year since 2013, with annual growth in sales slowing to 1.6 per cent in January compared to 2.3 per cent in the same month last year, the latest official statistics showed. The UK's Office for Budget Responsibility has forecast the economy will grow by 1.5 per cent this year, slightly higher than its earlier 1.4 per cent prediction. Several tax and spending measures will also take effect next month, including the third straight year of freezes in cash benefits for working age households.

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