City Chic Collective Faces 30% Sales Slump
City Chic Collective Faces 30% Sales Slump
City Chic Collective (ASX:CCX) has confirmed a massive 30% slump in sales for the year ending June 30. This news strongly suggests why the struggling fashionwear retailer is attempting to raise new capital and selling off its US online Avenue business at a loss.
City Chic Collective（ASX:CCX）已确认截至6月30日的年份销售额大幅下滑30%。这一消息非常强烈地表明，这家陷入困境的时装零售商为什么试图筹集新资本，并以亏损的价格出售其美国在线业务Avenue。
The company had its shares suspended from trading earlier this week until next Monday to allow it to raise approximately $27.5 million in an emergency funding round.
本周早些时候，该公司的股票已被停止交易，直到下周一，以便进行约2750万美元的紧急融资轮。
At the same time, the company announced it was looking at a loss of more than $9 million for the year. It has also received strong support from its financier, who has agreed to restructure its debt.
与此同时，公司宣布今年亏损超过900万美元，并获得其金融家的强力支持，后者已同意重组其债务。
City Chic paid $US16.5 million (or $A24 million) for Avenue in 2019 and confirmed on Thursday that it had sold the business for $US12 million (or $A18 million), resulting in a significant loss.
City Chic在2019年以1650万美元（或2400万澳元）的价格收购了Avenue，周四确认已将该业务出售至1200万美元（或1800万澳元），造成巨大损失。
"City Chic has signed a definitive agreement to divest its US-based Avenue business to Fullbeauty Brands for $US12 million (approximately $A18 million), subject to working capital adjustments at completion. The divestment aligns with the Group's strategy of focusing on the core City Chic customer in ANZ and the US. Completion is scheduled for July 2024," the company stated.
“City Chic已签署明确协议，将其位于美国的Avenue业务出售给Fullbeauty Brands，交易价格为1200万美元（约合1800万澳元），完成时会进行营运资本调整。这一出售与集团专注于ANZ和美国市场的核心City Chic客户的战略一致。交易计划于2024年7月完成，”该公司表示。
City Chic also reported that its lender had agreed to restructure its current debt facility, providing a $10 million multi-currency facility with an extended maturity to December 2026.
City Chic还报告称，其贷款人已同意重组其当前债务负担，提供1000万美元的多币种贷款，到2026年12月的待本期限。
City Chic confirmed that forecast Group sales for FY24 are down approximately 30% to $187 million (including Avenue).
City Chic确认，包括Avenue在内的预测集团销售额FY24下降约30%，为1.87亿美元。
The FY24 forecast Proforma Adjusted EBITDA post-AASB16 from Continuing Operations (excluding Avenue and Evans) is a loss of $9.3 million.
Continuing Operations（不包括Avenue和Evans）的FY24预测Proforma Adjusted EBITDA是930万美元的亏损。
City Chic's shares were last trading at 30 cents before the suspension on Monday. They are unlikely to return to this level anytime soon if a highly dilutive capital issue occurs.
在周一停牌前，City Chic的股价为30分。如果高度稀释的资本问题发生，它们不太可能很快回到这个水平。
