City Chic records strong revenue growth despite logistical disruptions

(Source: Supplied)

Global plus-size women’s apparel retailer City Chic has seen unaudited sales revenue of $178.3m for the 26 weeks to 26 December, creating sales growth of 49.8 per cent. 

The business’ customer base increased by 23 per cent during this period despite the pandemic and major supply chain disruptions, and revenue grew 14 per cent.

However, the fashion firm’s first quarter profit was impacted by $1 million per month over 4 months due to indefinite store closures following the guidance from Federal and State governments in ANZ

The firm’s chief executive officer and managing director Phil Ryan welcomed the company’s growth in all regions despite ongoing challenges. 

“I am pleased with our trading results for the first half, with strong revenue growth in all regions despite well published labour shortages and impacts to global logistics and supply chains,” said Ryan.

He noted that the particularly strong performance in the United States demonstrates potential for future expansion of the company to international markets. 

Despite supply chain pressures and global store closures, the company invested in additional inventory ahead of the Black Friday and Christmas trading period, which will build-up in the second half in order to secure key stock for the summer sales period in the Northern hemisphere.  

The company has also acquired USA plus-size marketplace CoEdition’s customer lists, URL, which will be integrated into its USA platform in January. City Chic paid US$0.639m for the assets of CoEdition which had 55k customers.

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