City Chic Collective's strategic update

City Chic Collective (ASX:CCX), a global retailer in plus-size women's apparel, shared its FY24 performance at the AGM on November 27, 2024. The company encountered economic challenges due to inflation impacting consumer demand in key markets. Strategic transformations are underway, aiming for profitability in FY25.

City Chic Collective's future direction

City Chic Collective faced economic headwinds in FY24 but has implemented strategic changes to address these challenges. The company has refreshed its brand and product offerings, optimized inventory, and reduced costs, achieving $20.3 million in savings. Looking to FY25, City Chic aims for revenue between $142-$160 million and EBITDA of $11-$18 million. The strategy includes expanding in the USA with pop-up stores and leveraging partnerships like Amazon. The company is poised for growth, focusing on operational efficiency and customer engagement to enhance its market position in the plus-size fashion industry.

Executive insights from City Chic Collective

Despite the tough economic environment, we have completed a significant business transformation. We've refreshed our brand and products, concentrated on high-value customers, and streamlined operations. With these changes, we anticipate a return to profitability in FY25.