Mosaic Brands Limited (ASX: MOZ) has provided trading update for the half-year ended 29 December 2019. The group has been emphasising on gross margin over sales, and gross margin percentage improved to approx. 59% during the period from 56%.
- Underlying EBITDA is expected to be around $33 million, and EBITDA to be around $32 million.
- 20% of the stores have been impacted due to bushfires, and 32% of 1386 stores are in the regional location where consumer confidence remains bleak.
- MOZ has made donation of $50k for bushfires, and it has pledged to donated apparels worth approx. $860k.
By 12:41 PM AEDT, MOZ was trading at $1.867, down by 17.4% from the previous close.
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