The Trans-Tasman apparel brand is set to open 130 new stores as sales soar due to customers retuning to in-store shopping.
According to unaudited accounts for the half year to January 1, sales have grown by 23 per cent, which the company is putting down to a strong trading momentum and a higher average transaction value.
Comparable store sales rose by 12 per cent whilst online sales grew 0.3 per cent. EBITDA delivered a 195 per cent increase to $15.8M compared to the previous corresponding period. According to Group Chief Executive Officer Scott Evans, the preliminary results demonstrate how Mosaic Brands has changed and transformed since the Covid-19 outbreak as a stronger and more sustainable business.
The company intends to open an additional 130 stores throughout the year, and is expecting online to reach up to 8 million products by the end of 2023.
Mosaic Group’s brands include Katies, Millers, Noni B, Rockmans, Crossroads, Autograph, W.Lane, EziBuy and Beme.