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Latest Articles
Mosaic Brands to shut down five clothing brands and corresponding stores in a bid for survival
Battling to keep the doors open at its flagship Noni B, Katies, Millers and Rivers stores, specialty fashion retail Mosaic Brands (ASX: MOZ) will shutter five of its brands in a drastic move to simplify its business and secure its financial future. All retail and online stores associated with Rockmans, Autograph, Crossroads, W.Lane, and BeMe will
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Mosaic Brands struggles continue as retailer flags lower consumer spending
Australian fashion retailer Mosaic Brands (ASX: MOZ)—the company behind brands like Noni B, Millers, Rockmans, Katies, Crossroads and Beme—has reported a challenging second half of FY24, citing disruptions in its supply chain and a decrease in consumer spending as key factors impacting its financial performance. Despite a strong first half with a $13.1 million EBIT,
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Renewed online focus proves profitable for Mosaic, sees 50% NPAT growth in H1 FY24
Even as discretionary spending takes a hit, fashion retail company Mosaic Brands (ASX: MOZ) has come out strong, ending the first half of FY24 with a 50% increase in its Net Profit After Tax (NPAT) on PCP. As per its recently released unaudited trading update, the Company expects to report an approximate NPAT of $5.9
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Mosaic expects $33m earnings turnaround after being ravaged by pandemic, eyes 130 new stores
With Covid, many companies lost the very feature that set them apart (and that they invested significantly in). For experiential companies, customers being inside their stores was a necessity. So, while some successfully transitioned to eCommerce, others waited for business as usual to return. Retail company Mosaic (ASX: MOZ) was one such company. After acquiring
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Savaged by COVID, Mosaic to permanently close 500 fashion stores
Retail in Australia has changed forever as a result of COVID-19 with Mosaic Brands (ASX: MOZ) the first large ASX-listed fashion retailer to announce mass closures of their retail network where up to 500 clothing stores will close permanently over the next two years. The announcement to reduce their network of more than 1,333 stores,
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Rent negotiations reach boiling point as Westfield padlocks 129 Mosaic stores
After months of negotiations brought upon by the coronavirus pandemic, Mosaic Brands (ASX: MOZ) has had 129 of their retail stores temporarily closed by Scentre Group (ASX: SCG), the operator of Westfield shopping centres. The tough decision comes after months of underpayment in rent from Mosaic whose retail stores have been severely depleted of foot
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