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Moss Bros Rings Warning Bells For The High Street

The latest high street retailer to sound the warning bells for the UK economy is suit company Moss Bros, reporting a fall of 1.5% in like for like sales over the last 19 weeks. The company expect this situation to deteriorate further with forecasts of a near 4% drop in like for like sales for the full year. While many observers of the UK economy have been expecting a sudden fall in the UK economy, the management of Moss Bros see more of a progressive worsening of the retail environment.

The company itself has been the subject of much takeover speculation over the last few months but it seems that possible suitors have walked away for the time being. When you consider that trading conditions are set to worsen and money will be tight for the next 12 months at least, why would you jump in and buy a company which will likely be cheaper in 12 months time.

This is a reflection of the stock market at the moment, with many investors content to sit on the sidelines for the time being and pick up ‘bargains’ further down the line. Many people believe that a sudden rush of takeovers will signal the bottom of the UK economy, but that appears to be some way off.

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