Bought at: 27p (February 2011)
Sold at: 70p (March 2013)
MOSS BROS WAS not a classic net-net stock, but it did look very cheap after the firm pulled off one of the deals of the century. In the end that was enough to qualify it for a deep value investment.
Moss Bros is the British suit specialist, selling and renting men’s clothing online and through 155 retail stores in Britain and Ireland. The company is over 100 years old and has been listed on the London Stock Exchange since 1947. With the onset of the recession of 2008/9 the company’s share price drifted lower and the business lost money in 2009 and 2010. Selling formal menswear in a recessionary environment may not have been the hottest prospect. ...