International sales rocket 33 per cent
Fashion group Mosaic has revealed mixed results in its first quarter statement, released today.

Group EBITDA was down 11 per cent to£10.1 million for the quarter to April 29. Total group sales increased 11 per cent to£98.4 million.

The Oasis and Whistles brands were up against tough comparisons and both recorded sales behind the first quarter last year. The group blamed the lack of a strong fashion look this season and the cold weather. It said sunny weather in June had improved sales considerably.

Coast and Karen Millen performed well, both delivering double-digit sales growth. Coast recorded a 40 per cent sales rise for the quarter. The fashion retailer said Karen Millen had the advantage of being less sensitive to fashion trends than younger brands and Coast had benefited from this year's dress trend.

International sales were up 33 per cent, with sales driven by like-for-like stores sales, as well as some store openings. The group said the performance of branches in Moscow and St Petersburg had been encouraging. In Europe, 11 franchises were opened and one store opened in the US during the quarter.

Chief executive Derek Lovelock said: 'This is a satisfactory set of results against the background of a challenging retail trading environment and we remain on track for the year expectations.'

Last week, the group revealed plans to buy rival UK fashion retailer Rubicon. The Rubicon group includes the Warehouse, Principles and Shoe Studio brands. Lovelock said: 'We believe the Rubicon business is an excellent fit with our own and the combined group will have an even stronger position in the UK retail sector.'