Brief: City Chic Collective Says Confident To Sell-Through Stock In Various Markets

City Chic Collective

24/11/2022 23:38

Nov 25 (Reuters) - City Chic Collective  CCX.AX :
    * REMAIN CONFIDENT IN ABILITY TO SELL-THROUGH STOCK IN
VARIOUS
MARKETS
    * FY2023 YTD PERFORMANCE IS UP 48% ON FY2021
    * FOR FY23, GLOBALLY REVENUE IS DOWN 2% YEAR TO DATE
    * IN PROCESS OF CONSOLIDATING OPERATING WAREHOUSING
ARRANGEMENTS
IN BOTH EUROPE AND UK
    * CONSOLIDATING OPERATING WAREHOUSING ARRANGEMENTS IN BOTH
EUROPE
AND UK TO BE COMPLETED BY END OF FY2023
    * AT FINANCIAL YEAR END WE EXPECT A POSITIVE NET CASH
POSITION
    * AIMING TO RETURN TO HISTORICAL LEVELS OF GROSS MARGIN OVER
TIME
    * INVENTORY AS AT END OF FIRST HALF IS EXPECTED TO BE IN
RANGE OF
A$168-174M
    * CONTINUE TO REVIEW RETAIL PRICING IN LINE WITH MARKET,
INCREASING PRICES WHICH WILL TAKE EFFECT THROUGH FY2023
    * WE ARE ON TARGET FOR INVENTORY TO BE IN RANGE OF
A$125-135M BY
JUNE 2023
    * WE EXPECT CONTINUED PRESSURE ON CONSUMER INTO SECOND HALF
OF
FY2023

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