# MOZ - Mosaic Brands



## System (8 August 2010)

Noni B Limited (NBL) is a fashion retailer of women's apparel and accessories. As at 30 June 2009 the company had 214 stores consisting of Noni B, Liz Jordan and La Voca brands across Australia. 

http://www.nonib.com.au/investor-centre


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## greggles (16 May 2018)

Noni B has successfully raised the capital needed to fund the acquisition of Millers, Katies, Crossroads, Autograph and Rivers from Specialty Fashion Group. $37.8 million was raised from institutional shareholders at $2.50 per share.

NBL hit news highs today and has closed at $2.72, up 15.74%.


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## rnr (7 October 2018)

greggles said:


> Noni B has successfully raised the capital needed to fund the acquisition of Millers, Katies, Crossroads, Autograph and Rivers from Specialty Fashion Group. $37.8 million was raised from institutional shareholders at $2.50 per share.
> 
> NBL hit news highs today and has closed at $2.72, up 15.74%.
> 
> View attachment 87384










and price has continued on it's path higher.

The low daily volume may be a barrier to some getting involved.

Hopefully a member, applying a fundamental approach, will comment on the Company's accounts etc. ​


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## rcm617 (10 January 2019)

NBL had a good Christmas according to their update today. EBITDA expected to be at the upper end of broker consensus and looks like integration of the newly acquired stores is going well. Targets by Wilson and Morgans at $4.74 and $3.83 fwiw. 
Management seems to be defying the downtrend in retail.


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## System (26 November 2019)

On November 26th, 2019, Noni B Limited (NBL) changed its name and ASX code to Mosaic Brands Limited (MOZ).


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## greggles (15 January 2020)

rcm617 said:


> NBL had a good Christmas according to their update today.




Not so good this year unfortunately. Trading Update H1 2020 released yesterday reported lower sales, mostly as a result of the bushfires. A fifth of their stores have been directly affected.



> However, comparable sales through the second half of November and throughout December, a critical sales period for the Group, were significantly impacted by the ongoing bushfire tragedy. 20% of the Group’s stores have been directly impacted by the fires, and some 32% of the Group’s 1,386 stores are located in regional areas where consumer confidence has been particularly fragile. As a result, comparable sales for the half were 8% lower than last year.




Share price has been knocked down to a low of $1.80 today. With retail in the state it is currently in, the MOZ share price may be depressed for a while. I image those regional areas are going to take a while to recover from the bushfires and sales may be less than normal for some time.


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## barney (15 January 2020)

greggles said:


> Share price has been knocked down to a low of $1.80 today.




One word … Ouch


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## rcm617 (15 January 2020)

At the AGM they were still tracking in line with their forecasts so was certainly a bad couple of months. 
I still think they have pretty good retail management and will recover in due course though they are still likely to have a couple of hard months. At present prices they are on a forward price to earnings of about 5 if they get back to normal trading. With the purchase of EziBuy their online trading will go up from 10% at present to 20%.
Bought a few more at these prices and if it drops a bit more will buy more. Should still be about a 6c FF dividend coming up. I think it is a good recovery stock but have been wrong many times before.


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## The Triangle (25 January 2020)

The net cash position should be stronger.  It's gone from 7.1m to 4m in the half, add in the acquisition and the dividend and I don't like the way things look.   Might take another look at this in several weeks after the 1/2 year report - but for now I don't trust them and think this will drop more.  Lots of inventory, lots of intangibles.


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## sptrawler (25 February 2020)

Corona virus, could have material impact on Mosaic.

https://www.theage.com.au/business/...ner-to-postpone-dividend-20200225-p5440b.html

I do not hold


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## finicky (21 August 2020)

Another one that 4 bagged from the Covid low

Mosaic Brands *(MOZ)* small reaction today to Scentre Group (SCG) closing Mosaic's stores nationally over rental dispute. Affects 129 stores ex Victoria. All Victorian stores were already closed. Still plenty of stores operating, looks like 1,100 - 129 = 971 stores - plus the 9 online outlets (contributing 10% and growing to sales).
Looks cheap, will check it out in the crash.

Daily


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## frugal.rock (25 August 2020)

barney said:


> One word …
> Ouch



Time to say that again... 



finicky said:


> Looks cheap, will check it out in the crash.



Front and centre news. 
Really makes Westfield's and Stocklands look a bit silly in my opinion... empty shopping centres?
Der....

Has potential for a few bags again given a year or 3... IMO...


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## finicky (26 August 2020)

*Fashion retail giant to close up to 500 stores after pandemic ravages sales*

By Richard Wood Aug 25, 2020

Fashion retailer Mosaic Brands will close up to *500* stores across the country after it recorded a $212 million loss due to the coronavirus pandemic.

The company behind clothing brands Rivers, Millers, Katies and Noni B had been "utterly derailed" by the coronavirus, Mosaic Brands CEO Scott Evans told shareholders at the announcement of its full-year results.

Mosaic Brands said the leases on nearly 80 per cent of its 1333 stores will expire over the next two years and it plans to close 300 to 500 of those over that time frame.

The company, which has 6000 employees, reported a statutory loss before tax of $212.1 million, a plunge of 1900 per cent on the prior year's statutory profit of $11 million.

Revenue fell 16.5 per cent to $736.7 million. The fashion retailer did not declare a dividend.

Online sales grew just 14.7 per cent during the year, far lower than other retailers.

As well as the coronavirus, Mosaic Brands said the devastating bushfires across Christmas and New Year periods badly hit sales.

The move to permanently shut more than a third of its store network comes after 129 of its stores in Westfield shopping centres were closed by landlord Scentre Group.

"The retail rental market in Australia is not paused because of the pandemic - it is fundamentally changed for the future. Some though not all landlords accept that reality, so while exact locations and numbers are to be determined, the group anticipates potentially 300 to 500 store closures over the coming 12 to 24 months," Mr Evans said.

"Shuttered stores work for no one so we aim to minimise closures, but not on uncommercial terms."


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## frugal.rock (31 August 2020)

frugal.rock said:


> Has potential for a few bags again given a year or 3... IMO...



I do my own research, TA and FA.
I don't always agree with the market and vice versa, but we're getting on ok, for now.


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## finicky (31 August 2020)

Wouldn't have picked that


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## frugal.rock (19 October 2020)

Had a look at MOZ on Friday and mused on $ 0.52 and thought it was getting due for a move again... typical. Although have been fairly lucky of late buying in the day before "pop goes the weasel"...
Not sure why it's popped, perhaps Victoria opening up a smidge?
Dunno.


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## over9k (20 October 2020)

Not a long term hold that's for sure. It's a business in structural decline. 

I suspect the victoria thing is the bounce, but for the reasons lifted above, I wouldn't go losing sleep over it.


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## frugal.rock (10 November 2020)

finicky said:


> Wouldn't have picked that



Neither, but lots of pickers today.... 

I remembered this just 5 minutes ago after seeing all the other stock that went bonkers today... typical.
Don't hold.


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## over9k (11 November 2020)

Give it time. I'd be selling today if I held. 

Bricks & mortar EVERYTHING is in structural decline.


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## frugal.rock (11 November 2020)

The fairer sex likes to shop in shop.
I don't see that tendancy disappearing any time soon.
Covid has made people value their freedom...


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## over9k (11 November 2020)

It's just old women keeping things hanging by a, er, thread. 

It's like newspapers - nobody under 50 reads newspapers any more either. When the 50+ die, that'll be the final thread severed.


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## verce (10 December 2020)

Strong Buy at the moment in my opinion.


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## greggles (10 December 2020)

verce said:


> Strong Buy at the moment in my opinion.




Why?


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## verce (10 December 2020)

greggles said:


> Why?




I think the retail outlets under their umbrella are very solid, and when retail picks up it should do nicely!


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## frugal.rock (10 December 2020)

Maybe these words from the 29th October trading update gives an image of overall transformational change to online that @over9k has been banging on about.
Retail needs to have both a great online shopping experience as well as the novelty bricks and mortar.
Those that want the bricks and mortar will be willing to travel somewhat...


“Consistent with our comments at the 2020 full-year results announcement, since August we have closed 73 stores in response to unrealistic rental requests and a permanent shift towards online purchases, “ said  Mosaic CEO Scott Evans. 

“Our online sales for the first quarter are up 31% on the previous corresponding period (PCP), with the amount of SKUs or items available on our websites growing from 150,000 to over 250,000 in just eight weeks.” 

Mr Evans said the growth of online, reduced discounting and a 50% drop in inventory holdings, had seen margins grow to 67% compared to 61.8% for the PCP. 

“We’re encouraged that a number of landlords have in recent weeks come to the table on rental reductions but not all have and we expect up to a further 250 store closures by June 2021,” said Mr Evans.


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## galumay (10 December 2020)

I suspect the problem is masked by the temporary boost to online sales from Covid. There will always be B&M retail, and there will always be some good businesses in the sector, there will also be a mix of good and bad businesses in online retail. Covid may just have saved MOZ for the time being, but when things return to normal I am not sure they will have a viable business.


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## frugal.rock (21 January 2021)

Never underestimate the power of Women.
Especially when clothes shopping...
Hit a high of 1.19
(Thats 1.4  bags since mid year musings...)
Not held though.


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## barney (21 January 2021)

frugal.rock said:


> *Never underestimate the power of Women.
> Especially when clothes shopping*...




Or any Shopping for that matter!!


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## Dona Ferentes (27 May 2021)

frugal.rock said:


> Never underestimate the power...



of opportunism

Mosaic Brands fined after misleading consumers over hand sanitiser​


> _Clothing retailer Mosaic Brands is counting the cost of selling useless hand sanitiser and dodgy face marks at the height of the coronavirus crisis._





> _The retailer, which owns clothing chains Noni B, Millers, Katies, Rockmans, Autograph and Rivers, has been forced to pay penalties of $630,000 after admitting to breaching consumer laws by making false or misleading claims about hand sanitiser and face masks advertised on its websites and via direct marketing between March and June last year._





> _According to the Australian Competition and Consumer Commission, Mosaic Brands advertised that its Air Clean hand sanitiser contained 70 per cent alcohol, but a sample tested by the ACCC was found to contain only 17 per cent alcohol._


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## sptrawler (1 September 2021)

Apparently Mosaic has closed 288 shops and doubled its profit.


			https://www.businessnewsaustralia.com/articles/owner-of-katies--noni-b-to-raise-capital-after-return-to-profit.html
		

From the article:
Mosaic Brands (ASX: MOZ) has entered a trading halt this morning as it gears up to announce a capital raise, following a return to profitability in FY21 for the group behind such brands as Katies, Noni B, Autograph, Crossroads and Millers.

Yesterday the company hit its financial targets in line with *previous forecasts*, with an EBITDA of $48 million compared to a $45 million loss in FY20.

The result does not include the results for New Zealand-based e-commerce clothing retailer EziBuy, in which Mosaic has a shareholding and which also returned to profitability with EBITDA of $3.7 million after two years of losses.

Mosaic - also responsible for brands Millers, Rivers, Rockmans and W.Lane - saw its sales decline by 10 per cent during the period to $588 million, but an improvement of margins led to a better bottom line.

Online sales grew by 19 per cent to $111.4 million and now also represent 19 per cent of total revenue. This was achieved partly thanks to an expanded retail offering, with the number of online offerings growing 10-fold to 1.5 million stock keeping units (SKUs).

"Notwithstanding significant ongoing disruptions to our business throughout the year, including numerous lockdowns and store closures, we are incredibly pleased with the results we have achieved and the return to profitability due to the actions we took to reset the entire group for the future," Mosaic Brands CEO Scott Evans said.
"The benefits of those actions became evident in the fourth quarter, which delivered our second most profitable Q4 on record with comparable sales growth of 27.9 per cent and comparable margin growth of 133 per cent, against a backdrop of subdued sentiment amongst our core customer group due to COVID-19," he said.

Evans said approximately 200,000 in-store only customers moved to also shop online, and the group acquired 200,000 new online only customers as a result of its expanded category and product ranges.

"We expect this trend to continue and this underpins our focus for FY22, being big stores, big brands, and an even bigger online range to meet our customers’ shifting purchasing behaviour."

Nonetheless, Mosaic's management is eager to set up a buffer through a strengthened balance sheet, given the disruption to momentum over the past two months due to widespread lockdowns. The trading halt in anticipation of the capital raising announcement is expected to be in place until no later than the start of trading on 3 September.









						Coronavirus Australia: Fashion retailer Mosaic Brands shuts down 288 stories since the start of the pandemic
					

Women’s clothing store owners Noni B, Rivers and Katies close 288 stores in a retail massacre caused by the pandemic – a day after stationery brand kikki.K collapsed in Australia By Olivia Day for Daily Mail Australia Published: 01:52 EDT, September 1, 2021 | Updated: 02:08 EDT, Sept 1, 2021 <!–...




					whatsnew2day.com


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## Dona Ferentes (9 June 2022)

Mosaic Brands were crunched on Wednesday, plunging 55% after the company sprung a bad news downgrade on investors that contained the unexpected revelation of a loss for the year to June.

Mosaic said the loss would come despite a profit for the half year to December and an improved May. The June half year will see a loss big enough to outweigh the first half result of profit before tax of $21.4 million.

The new guidance came three weeks before the end of the company’s financial year, so the loss is pretty certain.



> “_The May trading month, which included the key Mother’s Day period, continued to see overall trading conditions improve gradually, however at a rate that was below expectations, as our core customers remained highly cautious of the ongoing risks associated with Omicron. “Online sales have continued to grow strongly and, with the removal of most health orders across Australia, in-store trading and sales momentum has improved week on week throughout late May and into June._





> “However, given the continued disruptions to trade during the period, Mosaic expects to report a loss for the second half, which will result in a full year loss for FY22. “This is despite the Group delivering a profit in the first half of FY22, notwithstanding four months of lockdowns.”




Investors were told a profit was on track for the 2023 financial year starting 01 July, but that was ignored. Down, down, down. Closed at 20c.



> “_While inflationary and other wider economic pressures are expected to continue into FY23, the recent strengthening the Group is seeing in trade gives the Board confidence that conditions ahead are more favourable and navigable than the previous two years of managing the impact of COVID and lockdowns. As a result, Mosaic expects to return to profitability in FY23. Management is focussed on closing FY22 and entering FY23 in a strong and clean position to maximise the year ahead.”_


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## finicky (9 June 2022)




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## divs4ever (29 July 2022)

Quarterly Activities Report – Q4 FY2022
The Board of Directors of Mosaic Brands Limited (ASX: MOZ) releases its cash flow report (Appendix
4C) for the quarter ending 3 July 2022 (“the quarter”) and provides an update during the quarter.
Summary
• Operating cash inflow for the quarter $57 million, improvement on pcp by $4 million ($53 million
inflow).
• Year-to-date cash inflow of $44.6 million (no JobKeeper).
• Mosaic online turnover contributes 39% of the Groups sales and grew to $223 million (7% up
on pcp).
• As previously outlined, the Group has reset its cost base and continues to focus closely on cost
and stock management across the business.
• Trading improves week on week in the quarter with the Group expecting to return to profitability
in FY23.
Principal activities
Mosaic Brands owns and operates nine retail clothing brands, predominately within women’s apparel
and accessories within Australia and New Zealand, sold through its network of circa 1,000 stores and its
online digital department platforms.
FY22 Commentary and Update
Notwithstanding the ongoing impact Omicron and inflationary pressures seen during the last quarter, the
Group’s recovery from two years of restricted trading conditions continues.
Consistent with that update, trading has improved week on week after the Group experienced adverse
trading conditions early in Q3 and during the Mother’s Day period stemming from the ongoing impacts of
the Omicron COVID-19 variant.
The Group now expects the EBITDA to be in the order of a $16 million loss for FY22 and cash ended at
a positive $9.5 million net cash position in line with the ordinary cash inflow cycles. The EziBuy
acquisition was fully completed during the half and funded from Group cash.
Digital sales continue to grow on the prior year and now contribute approximately 39% of the Group’s
turnover. Third party product revenue also delivered $28.4 million in sales for the year (58% growth on
PCP).
While inflationary and wider economic pressures are expected to continue into FY23, the return of the
Group’s core in-store customer gained week by week momentum in June, resulting in it being the
strongest month of the second half. This was seen through the comparative in-store sales for the fourth
quarter being flat on the prior corresponding period (“pcp”) and was a significant improvement against
the preceding periods which were tracking around -8%. Pleasingly management are seeing this positive
trend continuing into July

The Group enters FY23 in a strong and clean stock position to maximise the year ahead.
This gives further confidence to the Board that conditions ahead are more favourable and navigable
than that of the previous two years of managing the impact of COVID lockdowns.
With its long track record of managing costs while serving one of the largest cost-conscious customer
demographics in Australia, Mosaic Brands believes that in an inflationary environment it is strongly
positioned to achieve growth and accelerate its recovery.
As a result, Mosaic expects to return to profitability in FY23.
Related party payments made during the quarter
During the quarter MOZ made rental payments of $40,000, Board Fees of $40,000 with EziBuy incurring
3PL distribution costs of $15,000. Rental and 3PL distribution costs paid were at normal commercial terms
and conditions.
Use of Funds Statement
The Company confirms that the quarter is not included in a period covered by a “use of funds” statement
or expenditure program in a prospectus, PDS or information memorandum previously lodged under ASX
Listing Rule 1.1.
All financial figures in this release are preliminary in nature and are subject to finalisation and review by
the company’s auditors.
– END –


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DYOR

i hold MOZ


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