2357 GMT - City Chic's latest trading update leaves Citi analyst James Wang feeling less optimistic about the Australian clothing retailer's chances of meeting its annual revenue and earnings guidance. He tells clients in a note that the women's apparel specialist needs to grow 2H sales by 20% on-year to hit its revenue guidance, something that looks difficult against the current consumer backdrop. He reckons there could be some improvement in 2H and likes the inventory position, but points out that City Chic's fiscal 1H is typically a bigger contributor than the second to its annual result. Citi has a buy rating and A$0.25 target price on the stock, which is up 15% at A$0.11. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 18:57 ET (23:57 GMT)
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