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#Signs of Trouble?
stale
Added one year ago

I noted that a family member commented that at one of Mosaic brands stores they got a great deal where everything in store was $25 or less. This meant significant discounting, often over 50%. Looking at websites of many of the other brand's owned by Mosaic, it appears there are similar deals on a broad range of items. If this were Boxing Day, the level of discount would make sense, but this is occurring the week before Christmas?? Unless this is their standard practice for encouraging sales, I am wondering if something is significantly wrong? Do they need to raise cash quickly or have way too much inventory?

I had previously had a quick look at Mosaic Brands. I concluded, if this doesn't go under then with just a small improvement in the long-term outlook it could be considered cheap. However, I thought the risk of going under is real and significant discounting before the Boxing Day sales wouldn't give me any positive signs if I was a holder... Hopefully, I'm completely wrong...

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#H1FY21 Results
stale
Last edited 3 years ago

Mosaic Brands 1H 2021 results

  •  Underlying EBITDA* for the period of $45.1m up 38%.•Record online sales up 27% on the previous corresponding period, with online products available growing to over 350,000 SKUs as customers diversify purchasing behaviour.
  •  Net Cash holdings up, closing on $65.3m from $5.4m in the PCP.
  •  Strategy of margin growth results in -5.6% comp store margin against -15% comp store sales with statutory gross margin increasing to 61%**.
  •  Group expects a return to sales growth on the back of COVID-19 vaccine tailwinds in FY22.

Notes: All amounts referenced exclude EziBuy contribution unless otherwise specifically stated.

*EBITDA is a non-AASB financial measure, defined for the purposes of this document as earnings before interest, tax, depreciation, amortisation, non-recurring income/expenditure and certain non-cash items such as share based payments and unrealised foreign exchange gains/losses and excludes restructure and acquisition costs and has been adjusted to normalise the impact of AASB16 accounting treatment.

** Gross margin adjusted for unrealised movements in foreign exchange

 

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