0309 GMT - City Chic Collective's weak start to its fiscal year turns Bell Potter analyst Chami Ratnapala bearish on the stock. In a note to clients, she says she doubts City Chic can meet its annual revenue guidance, despite management optimism about reaching the lower end of its A$142 million-A$160 million range. She pushes back her expectation for a return to positive Ebitda to fiscal 2026, warning that mass apparel is currently one of the most challenging retail categories. Ratnapala adds that conditions could improve for City Chic when the trading environment becomes more favorable. Bell Potter cuts its target price by 50% to A$0.07 and lowers its rating to sell from hold. Shares are up 2.15% at A$0.095. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 01, 2024 22:09 ET (03:09 GMT)
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