Australia's City Chic jumps as H1 sales grow despite pandemic disruptions

City Chic Collective

14/01/2022 24:28

** Shares of City Chic Collective Ltd  CCX.AX  rise up to
11.2% to A$4.97 as co looks poised for an upbeat H1, driven by
revenue growth across all regions
    ** Shares log their sharpest intraday gain since Aug 26, but
are headed for a 3.1% weekly drop
    ** The apparel and accessories retailer posts 50% jump in H1
sales revenue to A$178.3 mln ($129.75 mln), driven by 43.3% of
sales contribution from the United States  urn:newsml:reuters.com:*:nASX99rZbL
    ** Expects an underlying EBITDA for H1 in the range of
A$22.5 mln to A$23.5 mln, in line with prior year, despite
higher uncertainty around COVID-19
    ** Revenue growth has been supported by the strategic
investment in inventory - CCX
    ** About 1.9 mln shares change hands, compared with the
30-day average volume of 1 mln shares
    ** CCX stock up 35% in 2021, down about 10% so far this year

    ($1 = 1.3742 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))