Struggling fashion retailer City Chic posts $27m loss, shares fall 11pc

Plus-size retailer City Chic (ASX: CCX) has posted a $27.2 million loss for the first half of the financial year as international shoppers cut back on spending at the struggling fashion chain.

The Sydney-based retailer also revealed a loss of $3.4 million in underlying earnings, which was exacerbated to $23.1 million after including a provisional inventory loss in the Europe, Middle East and Africa (EMEA) region.

City Chic noted promotional activity was required to drive demand – particularly in the Americas and EMEA - as global sales revenue fell by eight per cent to hit $168.6 million.

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