Mosaic boosted by Christmas sales

The owner of fashion chains including Oasis and Karen Millen looked set to meet profits hopes today after an upturn in sales over Christmas.

Mosaic Fashions – majority-owned by Reykjavik-based retail investment group Baugur – said the “satisfactory” festive performance offset a tough autumn when unseasonably warm weather and supply chain problems hit business.

The group, which also owns the brands Coast and Whistles, cut its sales forecast for the year to the end of January to 15%, from 18%, but said it was still on track for earnings of £59m (€85.5m), a gain of 15% on a year earlier.

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