Brief: City Chic Collective Says Expects To Be Loss-Making In 1H FY24

City Chic Collective

30/08/2023 02:04

Aug 30 (Reuters) - City Chic Collective Ltd  CCX.AX :
    * IN FIRST EIGHT WEEKS TO 27 AUG, CO CONTINUED TO
AGGRESSIVELY
CLEAR WINTER INVENTORY IN ANZ
    * IN FIRST EIGHT WEEKS TO 27 AUG, CO CONTINUED TO
AGGRESSIVELY
CLEAR SUMMER INVENTORY IN USA
    * CITY CHIC IS FORECAST TO BE LOSS-MAKING IN 1H FY24
    * EXPECTS TO BE TRADING PROFITABLY IN H2 FY24
    * COST REDUCTION PROGRAM WILL CONTINUE THROUGH H1 FY24
    * EXPECTS TO HAVE NEW SEASONAL INVENTORY IN MARKET READY FOR
Q2
WITH A STRONG INVENTORY POSITION INTO H2 FY24
    * HAS INITIATED A SIGNIFICANT HEADCOUNT AND OTHER COST
REDUCTION
PROGRAM

Source text for Eikon:  ID:nASX5kszv7 
Further company coverage:  CCX.AX 

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