Plus-size clothing specialists City Chic Collective (ASX: CCX) has completed its departure from the US market having settled its divestment of its Avenue business to FullBeauty Brands, ending a troublesome period where marketing tailwinds were curbed by the pandemic and rise of online shopping. This strategic divestment is part of a business restructure by City
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Plus-size clothing retailer City Chic (ASX: CCX) has posted a 29% revenue decline for H1 FY24, citing inflationary pressures. Dwindling consumer confidence caused the Company’s sales revenue to drop to $105.8 million compared to H1 FY23’s $149.9 million. Online sales also remained challenging, but there were signs of improvement in stores during Q2. Going by
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Built up savings during the pandemic contributed to an 18-month period of robust growth in early 2021 for online fashion but the fall from those highs have since brought online retailers to their knees. Inflationary pressure, reduced discretionary spending and depressed customer sentiment carried over to 2023 have pushed the fashion industry over the edge.
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Australian stationery retailer, Kikki K, are the latest victim to the group of falling retail chains after news was released yesterday that the company was facing voluntary administration. While the stores and online shopping currently remain open to customers, the future of almost 500 jobs is uncertain. The swedish-design company was founded by Kristina Karllson
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