This summer's football World Cup cost Moss Bros more than £1 million, the suit retailer said yesterday.
The annoucement, in a pre close trading statement, sliced ten per cent off its share value in early trading.
Shares closed10.5 lower at 61.5p following its revelation that first-half like-for-like sales dipped 0.75 per cent. Moss Bros, which has ten outlets across the Midlands, described the first six months of the year as challenging, being particularly affected by unusual weather conditions and the Football World Cup.
Moss said the like for like dip followed seven consecutive half year periods of like for like sales growth and overeall sales for the 26 weeks to July 29 increased by 1.6 per cent on last year.
Retail gross profit margin for the half was up 0.3 per cent to 53.4 per cent.
Philip Mountford, chief executive, said: "The company has reacted well to the challenging retail environment, but the effect of the World Cup and the unusual weather has impacted on trading in June and July."