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Investing in New Suit

Apr 10, 2007

Menswear retailer Moss Bros backed its store refurbishment plans today after after seeing a further sales fall. Pre-tax profits for the retailer of pounds 5.3m in the year to January 27 came amid a 1.3% drop in like-for-like sales - its first fall in five years. Sales in the first 10 weeks of the current year were down 1%.

However, the company said that it had seen an improvement in profit margins following increased investment in its IT systems, supply chain and store portfolio.

Car insurance drops

THE typical motorist saw the cost of car insurance fall slightly in the first months of this year after a record high recorded at the end of 2006. The AA Insurance Premium Index showed that the average quoted premium for an annual comprehensive car insurance policy in the first quarter of 2007 was pounds 802, just pounds 4 less than the all-time high.

Turkey jobs to go

ABOUT 400 workers have been made redundant at a turkey factory. Cranberry Foods is shedding staff at its slaughtering and processing plant in Abergavenny, south Wales, following a business review.

The company, which is the second largest turkey producer in the UK with a turnover of approximately pounds 63m, will create up to 140 jobs at its factory in Holly Bank, Derbyshire, following the decision.

Lower demand for UK-reared turkey meat is being blamed for the job losses.

Phone contract

MOBILE phone giant Vodafone has selected Ericsson to manage the supply and distribution of spare parts for its mobile networks across several of its European operating businesses, including Germany, Spain and Portugal.

(c) 2007 Evening Gazette - Middlesbrough. Provided by ProQuest Information and Learning. All rights Reserved.

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