Mosaic Brands confirms loss looms for fiscal FY24

Mosaic Brands has confirmed it will report trading and statutory losses for the last fiscal year, with a pretax deficit in the range of $15 million to $20 million expected.

The fashion retailer forecasts an operating EBITDA loss of between $5 million and $10 million.

The company said it continues to anticipate a recovery in the first half of the current fiscal year as it works on resolving operational issues.

In June, Mosaic Brands already said that it was facing a more challenging second half with disruptions caused by the migration to a fully integrated logistical supply chain and distribution system with a newly appointed global partner.

The disruptions were greater than expected, delaying the delivery of the stocks into the Mother’s Day trading period.

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