Moss Bros director tops up stake after sales rise

Zoe Morgan, an independent non-executive director of men's clothing retailer Moss Bros, has together with her husband added 13,280 shares to their existing holding of 50,424.

The director paid 93.47p a share for a total spend of £12,413.

The deal was made on Monday, the same day the company reported a drop-off in summer hire sales, although the group's overall sales were looking up.

Moss Bros said hire bookings for the 2014 wedding season were behind last year's levels, although the average price achieved on hire continued to improve due to the launch of new premium products such as a Ted Baker morning suit.

However, it added that the decline in hire moderated in the second quarter and it expects more improvement in the second half of the year as demand switches from wedding outfits to evening wear.

Like-for-like sales in the 26 weeks to 26 July increased 6.4% and total sales of £55.8m rose 4.6% versus last year.

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