Australia's City Chic Collective set for worst day in 2 months on HY loss

City Chic Collective

27/02/2023 01:17

** Shares of City Chic Collective Ltd  CCX.AX  plunge as
much as 12.8% to A$0.565, on track for worst day since Dec 20,
if losses hold 
    ** The multi-channel retailer posts HY net loss after tax
A$27.2 mln ($18.31 mln) vs profit of A$12.3 mln
    ** Says HY revenue is down 8% at A$168.6 mln
    ** Co expects inventory to normalise and is on track to
reach its post provision target of A$105-115 mln at FY end     
    ** Stock hits lowest since Jan 18
    ** Stock up 23.2% this year, as of last close

    ($1 = 1.4852 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))