Mosaic Brands will be progressively reopening its stores pending satisfactory discussions with landlords, after announcing it expects to report an EBITDA loss for the year.
Due to the decline in footfall caused by March’s lockdown pressures, as well as the closure of stores for the past six weeks, Mosaic’s second half earnings are expected to fall below the $32 million EBITDA earned in the first half of FY20.
On Thursday the business said it had conducted trial openings in the past week to test the bricks and mortar market, and as such has been able to gain insights into the changes in consumer shopping habits, store revenue and foot traffic.
Mosaic hopes to speak to landlords about these insights, and find an agreeable way to reopen all of its stores under “appropriate commercial terms”, and where it can provide a safe and improved shopping experience for customers.
