BUZZ-Australia's City Chic Collective jumps 25% after growth in sales

Reuters
14 Jan
BUZZ-Australia's City Chic Collective jumps 25% after growth in sales

** Shares in retailer City Chic Collective CCX.AX rise as much as 25% to A$0.120, their biggest intraday pct jump since Aug 28

** Co says global sales revenue rose 3.2% in the 26 weeks ended Dec 29, compared with a year earlier

** Analysts at Citi say co will have to grow sales by 20% in second half to achieve 2025 annual revenue forecast of A$142 mln ($87.80 mln) - A$160 mln

** Brokerage says weak first half has made it challenging for CCX to meet its 2025 full-year outlook

** Says lower inventory for CCX will reduce the need for heavy promotions in second half of 2025

** More than 2.6 mln shares change hands, as compared with the 30-day average volume of ~1.2 mln shares

** Stock up 12.24% this year, including current session's moves

($1 = 1.6173 Australian dollars)

(Reporting by Roushni Nair in Bengaluru)

((Roushni.Nair@thomsonreuters.com;))

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