Mosaic Brands reported a loss for FY20 due to the significant disruption caused by firstly the bushfires and then the COVID-19 pandemic.
However, now in FY21, the business anticipates that it can return to profitability if there aren't any other significant disruptions to operations.
Going forward, CEO Scott Evans told Ragtrader that the Group is set to focus on the digital offering, continued improvement in cost of doing business and a strengthening of the bricks-and-mortar portfolio.
"We have improved our cost of doing business by approximately $18 million so we have engineered ourselves to be more efficient.
"In terms of our strategy in web, this has been purely and simply to go for share of wallet - in other words become online department stores.
"So our brands aren't just selling our branded product online, they're selling a number of categories.
"We've now got over 150,000 SKUs across 14 separate categories and these are things we can't offer inside stores because we don't have the space, so that's working exceptionally well.
"We've also got some exciting things happening within the stores too," Evans continued.
"We've launched our 'Impulse' innovation in store, which means at the side of the till we've now got additional add-ons for customers so she can purchase additional things that she might want.
"We are also set to launch beauty in all stores later on this year.
"Then we've got continued growth, especially in Rivers.
"We've got our designer brands strategy in Rivers which is working exceptionally well too.
"So from a bricks-and mortar perspective, as well as digital, there's lots of exciting things for us to do and encounter this year as we go forward," he said.
When it comes to how each brand has performed during the pandemic, Evans added that the ones that sit in the more casualwear space have performed better than those in the smart casual space.
"We've had really encouraging results across all brands, however what's very obvious is that the brands that are more destinational - take Noni B as an example - [have been impacted].
"Because people aren't allowed to socialise in large groups and/or have events, brands [like Noni B] are finding it a lot more difficult than the likes of Rivers or Millers or Katies.
"So there's a definite trend that you can see across the group on what part of the wardrobe each brand offers and the more casual part of the wardrobe, the better the brand is doing," he said.