It is expecting to report a deeper loss for the 2024 financial year in the range of between $15 million and $20 million, partially driven by disruptions from a botched technology migration project involving a new logistical supply chain platform.
This impacted Mother’s Day trading to a degree that was “greater than expected”, delaying the delivery of stock to stores in the lead-up to Mother’s Day. “This, combined with softness in consumer spending, severely impacted revenue and earnings in the fourth quarter,” Mosaic said in a statement from June 21.
Mosaic has close to 100 suppliers. A handful of them in Australia and China have complained about not being paid by the clothing group.
One of those suppliers was Faith Fashion,…
