Australia's Mosaic Brands posts record drop on flagging annual loss

Mosaic Brands

08/06/2022 02:41

** Shares of Mosaic Brands  MOZ.AX  fall as much as 37.8% to
A$0.28, their biggest intraday pct drop
    ** The fashion retailer expects to report a loss for second
half of FY22, resulting in full-year loss  urn:newsml:reuters.com:*:nASX3XdCsf
    ** Says inflationary and other wider economic pressures are
expected to continue into FY23
    ** Still, adds that it expects to return to profitability in
FY23
    ** Stock hits its lowest since March 26, 2020
    ** More than 1.2 mln shares change hands, vs the 30-day
average volume of ~75,000 shares
    ** Stock down 26.8% this year, as of last close
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))