News: CCX City Chic Collective Posts HY Sales Revenue Of A$178.3 Mln

Feb 24 (Reuters) - City Chic Collective Ltd (CCX) :

• HY SALES REVENUE OF A$178.3M, REPRESENTING TOP-LINE GROWTH OF 49.8%
• HY STATUTORY NPAT OF A$12.3M, DOWN 5.9% VERSUS 1H FY21
• IN FIRST 8 WEEKS OF 2H FY22, CITY CHIC HAS CONTINUED TO DELIVER TOP-LINE AND COMPARABLE SALES GROWTH
• HY ONLINE COMPARABLE SALES GROWTH OF 52.5%
• DECIDED NOT TO DECLARE A DIVIDEND FOR 1H FY22
• IN FIRST 8 WEEKS OF 2H FY22, ONLINE GROWTH RATES IN KEY MARKETS OF ANZ AND US HAVE BEEN MORE SUBDUED COMPARED TO 1H FY22
• DECISION TO PAY A DIVIDEND WILL BE REVIEWED AT FY22 RESULTS
• STOCK LEVELS WILL CONTINUE TO BUILD DURING 2H FY22 TO MANAGE LUNAR NEW YEAR SHUTDOWNS IN CHINA
• STRATEGIC INVESTMENT IN INVENTORY TO RESULT IN TEMPORARY REDUCED CASH POSITION AND PARTIAL UTILISATION OF GROUP'S DEBT FACILITY