Quarterlies Top 5: Fashion retailer Mosaic Brands is bang on trend this morning
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As the countdown continues to the next quarterly report filing deadline (Friday January 29), Stockhead recaps the best performers – today’s best was fashion retailer Mosaic Brands (ASX:MOZ).
While this company’s update was a half yearly rather than a quarterly, it was a significant gainer this morning.
12 months ago, the company (which was until 2019 known as Noni B) reported a drop in sales over the 2019 Christmas period, for which it blamed the bushfires.
COVID-19 was a further hit, forcing the company to ponder shutting hundreds of stores, but it has announced a significant turnaround.
Mosaic first half earnings are expected to be between $40 million and $45 million and Black Friday sales doubled compared to last year.
The company told shareholders it was well positioned for the second half and also that it expected “a large number of our frontline team, vaccinated (against COVID-19) by the middle of the year”.
Mosaic shares rose over 33 per cent today but are still in negative territory in 12-month terms.
The family-focused social media app had another strong quarter. It recorded $3.13 million in revenues, up 25 per cent from the last quarter and 157 per cent up from the same period last year.
Tinybeans was earnings negative by $124,000 but said it was earnings profitable by $809,000 excluding “growth investments”.
It also hit 5 million users, up 35 per cent from the prior corresponding period.
Tinybeans shares have been on a rollercoaster since listing but are up 51 per cent up from its IPO with today’s rise.
The high flying BNPL stock declared to shareholders it had “cement(ed) its position as one of the fastest growing BNPL players in the US and a global BNPL leader”.
It now boasts 5.7 million customers, annualised Total Transaction Values of approximately $7.5 billion and annualised revenue of $480 million.
More than half of its customers (3.2 million) are in the US and quarterly transaction volume grew 125 per cent quarter on quarter and 217 per cent year on year.
Zip shares rose another 10 per cent today.
The ASX’s car sector has been one of the surprise performers out of COVID-19 and Autosports has been no exception.
The company, which is a parent company for several car dealers, expects total revenue for the half year of $905 million – up 8 per cent on H! of FY20.
Autosports’ normalised net profit before tax is expected to be between $28.5 million and $29.5 million.
Shares rose by 8 per cent today.
The wealth manager and investment platform upped its Funds Under Administration (FUA) by $4.8 billion to $38.8 billion and Funds Under Management by $1.3 billion to $9.3 billion.
The company also noted shareholders were progressively moving to its new pricing model and that it expected to benefit from “ongoing industry consolidation and change”.
Shares rose by just under 10 per cent this morning.