Australia's City Chic Collective jumps 25% after growth in sales

City Chic Collective

14/01/2025 24:04

** Shares in retailer City Chic Collective  CCX.AX  rise as
much as 25% to A$0.120, their biggest intraday pct jump since
Aug 28
    ** Co says global sales revenue rose 3.2% in the 26 weeks
ended Dec 29, compared with a year earlier
    ** Analysts at Citi say co will have to grow sales by 20% in
second half to achieve 2025 annual revenue forecast of A$142 mln
($87.80 mln) - A$160 mln
    ** Brokerage says weak first half has made it challenging
for CCX to meet its 2025 full-year outlook 
    ** Says lower inventory for CCX will reduce the need for
heavy promotions in second half of 2025
    ** More than 2.6 mln shares change hands, as compared with
the 30-day average volume of ~1.2 mln shares  
    ** Stock up 12.24% this year, including current session's
moves 

    ($1 = 1.6173 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))