Australia's City Chic drops most in over 8 mths after swinging to FY loss

City Chic Collective

30/08/2023 04:04

** Shares of City Chic Collective  CCX.AX  slide as much as
15.4% to A$0.440 - their biggest intraday drop since Dec. 20
    ** The women's apparel retailer posts FY net loss after tax
from cont ops of A$45 mln ($29.11 mln) vs profit of A$24.4 mln
last year
    ** Says FY group revenue down 15.8%
    ** Adds co is forecast to be loss-making in 1H FY24, but
expects to be trading profitably in 2H FY24 
    ** Stock hits lowest since July 31
    ** As of last close, stock up 9.5% YTD


($1 = 1.5461 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))