Ann: MOZ - Appendix 4E and financial report, page-14

Moz aren't just being killed by the big mall operators but that certainly one of the reasons.

Dealing with the big landlords is difficult. It's a term of their leases that you have to submit monthly sales figures and they then compare sales per square metre across all comparable stores such as ladies fashion and footwear, in my case. They send you that information so you know exactly where you sit. If you are at the top of the table, they hit you up for more rent at renewal time. If you are at the bottom, then your days are numbered.. No doubt Moz has lost stores for this reason. Why are they at the bottom of the table? The few stores I have seen are overstocked with poor quality merchandise.

Remember when Scotty used to brag about the lease profile and how many stores were on 'holdover': the lease term had terminated and was continuing on a monthly tenancy until new terms could be agreed? The problem is that there is no security of tenure on this basis and it can bite you, as they have found out. Closing 142 stores in a year-just short of 3 per week-must be the main reason for CODB coming down.

How many more stores to close this year?

DYOR