Shares in fashion retailer Mosaic Brands and outdoor clothing group KMD Brands have slumped after both companies warned of weaker sales as consumers face cost-of-living pressures and potentially higher-for-longer interest rates.
Mosaic — which is behind brands Noni B, Rockmans, Rivers, Millers and Katies — is down 20 per cent in early trade on Friday to 8¢ after it told the market the second half of the 2024 financial year had been more challenging for the company across the discretionary consumer sector more broadly.
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