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

Nov 25 (Reuters) - City Chic Collective (CCX) :

• 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