I think people did read the announcement and looked through the...

I think people did read the announcement and looked through the glossy headlines and external distractions. Consider the results announcement:

Mosaic Brands 1H 2020 EBITDA up 36% to $32 million
 Gross margin increased to 60%, up from 57%*
 Online sales mix 10.1% of total Revenue, up from 9%*
 Operating cash flow $12.5 million*
 Net cash $4.5 million*

*Excludes EziBuy contribution to the Group

One could have cherry-picked the following data instead:

Mosaic Brands 1H 2020 Sales down, Outlook
 Sales down 8%
 Dividend down 100%
 Debt up 85% to $54.7M
 Net cash -$2.8 million*

*Includes EziBuy contribution to the Group (which should be included - it occured!)

By dropping the dividend the company is expecting cash flow issues and debt has been slowly creeping out. The biggest issue though is the level of inventory (clothes). This now stands at $195M, average turnover is up to 160 days per item, that is almost 2 seasons. This is a real problem. Its not access to stock that will bite into profits, it's the profitability of the ample stock they have.