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13.0¢ city chic collective limited

AFR article- Immediate company clarification required, page-2

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natnicnak

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21/12/22

20:31

Post #: 65406253
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Originally posted by natnicnak: ↑

CCX has publicly stated-

— CEO address AGM in November: “I am very happy with the market relevance of the stock and the performance of our inventory so far given the conditions. We are moving inventory between regions to deliver seasonally relevant product to the most appropriate market to drive demand off existing inventory”

- slides 16 and 17 of the AGM slide pack: “Seasonless Inventory- classic shapes that transcend seasons”. The CEO went to some length in the analyst call to explain most of the inventory build was seasonless inventory.

AFR article - below; if this is correct, the the above comments and information are false and misleading.

This needs clarification by the company. If it is competitors up to their tricks to kick a company when its down the Board must point out the true situation.

AFR:
“The inventory issue talks to a massive board and management failure, and a complete lack of understanding inventory management plays in the business.City Chic is buying summer dresses for Australia’s summer and for the UK-US but can’t trade that stock until next year. The seasonality is wrong and so is the volume and therefore the markdowns are higher – putting a squeeze on margin as fulfilment costs rise.In fashion, inventory is perishable. Hefty constant discounting hurts the brand. And what’s worse is many of City Chic’s US peers have similar overstock issues, so the segment is drowning in stock … but it appears City Chic is the worst of the bunch.”

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I warned this would happen re reputations etc in financial markets, that the CEO’s reputation would be hit and consequential loss of credibility; unbelievable how quickly scum appear to actually kick the boots in. The AFR and its secret sources is to blame here, operating as a rag.

CCX Price at posting: 48.0¢ Sentiment: Buy Disclosure: Held
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AFR article- Immediate company clarification required, page-2

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Cauldron Energy reports "excellent" uranium assays in latest drill run

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

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Issues emerging as Australian companies tackle critical minerals challenge

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NRW Holdings inks $109M deal with BHP for works at Jimblebar

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AFR article- Immediate company clarification required, page-2

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ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

Cauldron Energy reports "excellent" uranium assays in latest drill run

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

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Issues emerging as Australian companies tackle critical minerals challenge

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The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

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Sellers (Offers)

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