BUZZ-Australian clothing retailer City Chic soars 41% on estimate-beating forecast

Reuters08-28

** Shares of Australian plus-sized fashion retailer City Chic Collective soar as much as 41.5% to A$0.145, marking their biggest intraday pct jump since mid-May 2018

** CCX hits its highest level since June 24

** More than 7.5 mln shares change hands, vs the 30-day average of 881,911 shares

** CCX targets FY25 revenue between A$142 mln ($96.46 mln) and A$160 mln, ahead of A$131.6 mln in FY24 and Citi estimate of A$138.8 mln

** Forecasts FY25 EBITDA between A$11 mln-A$18 mln, vs a loss of A$8.4 mln in FY24 and Visible Alpha consensus of A$13.3 mln

** Adds that trading gross margins up 28% in first 8 weeks of FY25 - ahead of Citi expectations

** Update looks upbeat relative to our expectations, says Citi

** CCX down 77.1% this year, as of last close

($1 = 1.4721 Australian dollars)

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com; Twitter: ))

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