May 22 (Reuters) - City Chic Collective Ltd (CCX) :
- REMAINS ON TRACK TO ACHIEVE A POSITIVE NET CASH POSITION AT END OF FY23
- CURRENT A$46.5 MILLION DEBT FACILITY HAS BEEN AMENDED
- DECIDED TO ACCELERATE ITS INVENTORY UNWIND, WITH FOCUS ON EMEA GIVEN ADDITIONAL INVENTORY IN THAT MARKET
- INVENTORY IS EXPECTED TO REDUCE FURTHER THROUGH FY24, WITH MARGINS LIKELY TO REMAIN SOFT THROUGH H1 FY24
- EXPECTS TO HAVE A STRONGER INVENTORY POSITION FROM Q2 FY24
- INVENTORY UNWIND EXPECTED TO DRIVE CASH FLOWS AND REDUCE INVENTORY BALANCE AT END OF FY23 TO LESS THAN A$100M
- GROUP SALES FOR 45 WEEKS TO 14 MAY 2023 ARE DOWN 15.2% TO A$262.2M
May 22 (Reuters) - City Chic Collective Ltd (CCX) : REMAINS ON...
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