City Chic Collective announced 1HFY23 Results

City Chic Collective Limited (ASX: CCX) has announced its financial results for the first half of the fiscal year ending 01 January 2023:

• The company's revenue was AU$168.6 million in 1HFY23, which represents an 8% decline compared to the previous corresponding period.
• The company's global active customer base increased by 1.2% to 1.33 million, which is a 66% increase from 1H FY21.
• The global customer website traffic also increased by 7% across all regions to 76.7 million visits.
• It has reported an underlying operational EBITDA loss of AU$3.4million, while its statutory NPAT loss of AU$27.2 million.
• The financial year-end inventory target has been adjusted for additional provision and is on track for AU$105 million to AU$115 million. The company has a net debt of AU$13.4 million, but it is expected to have a positive net cash position by the financial year-end.

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