Brief: Mosaic Brands To Restructure EziBuy Business

Mosaic Brands

03/04/2023 02:44

April 3 (Reuters) - Mosaic Brands Ltd  MOZ.AX :
    * RESTRUCTURE OF EZIBUY WILL HAVE  NO IMPACT ON ANY OTHER OF
NINE
RETAILS BRANDS WITHIN GROUP'S PORTFOLIO
    * NOTED PERFORMANCE OF EZIBUY AT ODDS WITH STRONG AND
CONTINUED
DIGITAL GROWTH ACROSS MOSAIC'S OMNICHANNEL BRANDS
    * GROUP DOES NOT CONSIDER IT PRUDENT TO PROVIDE ANY SHORT
TERM
GUIDANCE TO MARKET
    * INTENDS TO PROPOSE RESTRUCTURE THAT WOULD SEE EZIBUY
EMERGE AS
SIMPLIFIED, PROFITABLE, CASH-GENERATIVE ONLINE-ONLY OPERATION
    * BELIEVES RESTRUCTURE EZIBUY IN BEST INTERESTS OF
SHAREHOLDERS AS
IT WILL IMPROVE OVERALL NET ASSET POSITION AND OPERATING
CASHFLOW
    * EXTENT OF EZIBUY'S SALES DECLINE PROMPTED BOARD TO CONDUCT
STRATEGIC REVIEW OF ITS OPERATING AND COST STRUCTURE

Further company coverage:  MOZ.AX 

 ((Reuters.Briefs@thomsonreuters.com;))