Sales were up 5 per cent to£853.3 million for the year, including a 4 per cent increase in the fourth quarter.
Coast, Karen Millen, Principles, Warehouse and Whistles all delivered sales growth, but there were declines at Oasis and Shoe Studio Group.
However, international sales across all brands soared 28 per cent, and now represent 15 per cent of total turnover, compared with 12 per cent in 2006. Online sales rocketed 253 per cent to£7.7 million.
During the year, 177 stores and concessions were opened across Europe and four in the US, taking its portfolio to 1,629. Internationally, 48 franchises opened taking the total to 172. However, despite the international expansion, the retailer said maintaining a successful base in the UK remains a top priority.
Mosaic Fashions chief executive Derek Lovelock said: 'The UK market was very difficult this year, and all our brands have been affected to some extent by this. However, our strategy for long-term growth by integrating new brands, expanding internationally and developing e-commerce, has progressed well.
'E-commerce has outperformed, particularly in Principles and Warehouse, where innovative new web sites were launched early 2006. The Oasis web site went live for the first time in September and is performing strongly. Following the launch of the Shoe Studio web site in February 2007, we will roll out e-commerce to the remaining brands later this year.'
The company said the new financial year has started slowly, with the timing of Easter and unseasonable UK weather making it difficult to assess performance. However, Lovelock said: 'Despite mixed results across our portfolio of brands, we remain confident of achieving low double digit growth in EBITDA for the year.'
No comments yet