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City Chic off to a good start in first half

(Source: Bigstock)

Global plus-size omnichannel fashion retailer City Chic has reported a strong performance in the first half, however, it expects a challenging future due to global supply chain disruptions.

Sales soared 46 per cent to $178 million in the first half-year while the company built an active customer base of 1.32 million users. Underlying EBITDA was recorded at $23.5 million.

In the second half-year to date, US sales rose 47 per cent and Australian sales by 13 per cent, with total sales up 25 per cent from the same period a year earlier.

Online sales are contributing almost three-quarters of the company’s sales revenue. 

Looking forward, the fashion firm said the second-half EBITDA would depend on consumer demand in the key trading months of May and June. 

Furthermore, many ports in China are closed due to Covid Zero policies and shipping delays have ensued as a result.

The brand has also made strategic investments in inventory to support future growth demands and to manage supply chain disruptions across its global markets.

The company says the global plus-size market is forecast to grow 7 per cent annually.

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