Friday, September 17, 2021

Australian fashion retailer City Chic will close with sales of A $ 258 million in 2009.

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City Chic Collective, an Australian multi-channel retailer for plus-sized women, increased sales by 32.9% in fiscal year 2021 ending June 27, 2021 to A $ 258.5 million (AUD). I did. Last year. This year’s strong performance was driven by a strong recovery of ANZ Online and US websites in the second half of the year.

“Our strategic vision of leading the curve world, despite the pandemic influence, has taken a big step in the last 12 months.” Phil Ryan, CEO and Managing Director of City Chic, Said in a press release. “A very keen focus on the three pillars of plus size, digital and global customer acquisition has once again brought strong results.”

“We continue to gain market share in ANZ with 27% revenue growth achieved through the City Chic product stream lifestyle and segment expansion. In August, the Australian market has conservative value. We have soft-launched our product, which allows us to accommodate a wider and more winding community, “Ryan added.

Regionally, ANZ sales were up 27.1% to A $ 144.5 million and sales in the Americas were up 26.8% to A $ 99.6 million. In addition, sales from the EMEA region totaled A $ 14.4 million.

“The UK and Europe marketplace partner strategy advanced in the second half of the year, launching brands at Next.co.uk and Curvissa. We also expanded our wholesale partnership with the Alshaya Group to expand the entire Middle East and related websites. We have agreed to enter into franchise agreements with more than 20 Debenhams stores in the United Kingdom, “Ryan added.

Annual online channel sales were up 55.6% to A $ 184.6 million, while store sales were up 11.2% to A $ 67 million.

Women’s fashion retailers reported that EBITDA in 2009 increased from A $ 26.5 million in the previous fiscal year to A $ 42.4 million. EBIT increased to A $ 36 million and net income after tax increased to A $ 24.9 million.

“Our diverse global footprint has minimized the impact of the closure of Australia’s current store closures. The United States remains very strong and the United Kingdom and Europe have recovered in the last few months. “Ryan said. “With stronger banner brands in Australia, the US, the UK and now Europe, and a strong global marketplace partner, we can continue to grow our business and lead the curve world. . “

Fiber2Fashion News Desk (JL)

City Chic Collective, an Australian multi-channel retailer for plus-sized women, reported revenues of A $ 258.5 million (AUD), up 32.9% from A $ 194.5 million in fiscal year 2021. )became. This year’s strong performance was driven by a strong recovery of ANZ Online and US websites in the second half of the year.

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Australian fashion retailer City Chic will close with sales of A $ 258 million in 2009.

Source link Australian fashion retailer City Chic will close with sales of A $ 258 million in 2009.

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