First-half sales up for Mosaic

Icelandic fashion retailer Mosaic - which counts Oasis and Karen Millen in its brand portfolio - has managed to resist the downward high street trend with positive first-half sales.

The company released its first interim figures since listing on the Icelandic stock exchange and it shows a promising performance.

Mosaic's sales increased by 17 per cent in the first half and by 19 per cent in the second quarter. Although like-for-like sales figures were not reported, the Baugur-owned group has managed to avoid the retail downturn.

Oasis, Coast and Whistles performed well, but the Karen Millen fascia was weaker. It produced a 6 per cent turnover increase in the second quarter, compared with the 42 per cent increase at Coast for the same period.

The group, which was incorporated this year, acquired Karen Millen and sister brand Whistles last year and is still in the process of integrating.