Summer events wipe £2m off Moss Bros income The Queen's Diamond Jubilee and the Olympic Games wiped £2 million off income at clothing retailer and hire firm Moss Bros during the summer. Many weddings were deferred to the second half of the company's financial year to avoid clashing with the big events over the summer, Moss Bros said. The firm expects to recoup the lost income in the current period, but in the meantime it reported profits from continuing operations for the six months to 28 July of £2.2m, unchanged on a year earlier. Moss Bros, which has 136 stores, said it also absorbed increases in raw material prices in the period but that margins were now improving as a result of a recent stabilisation in input costs. Early indications from four stores that were refurbished during the first half have been encouraging and a further 12 outlets are due to be refitted in the second half as part of a drive targeting 90 sites over five years. Moss said trading in the seven weeks to 15 September has been encouraging, albeit with slower like-for-like sales growth than the 5.7 per cent rise seen in the first half. Chief executive Brian Brick said: "These results reflect another period of progress for the company. The group has traded well across both hire and retail in the first six months of the year. Moss recently sold its Cecil Gee and Hugo Boss stores in order to focus on improving its core business. John Stevenson, an analyst at Peel Hunt, said: "Moss continues to invest in new stock in areas such as school proms - which were an effective sell-out last year - premium morning suits, including a new Ted Baker suit for spring-summer 2013, and will take the hire business online in spring 2013. A potentially significant development, Hire online will also allow the Moss hire business to expand as a concession business.