1、2023 ANNUAL REPORTContentsOverview04Our People18Message from our Chairman and CEO08Environmental,Social and Corporate Governance24Board of Directors12Annual Financial Report 2023City Chic Annual Recap&Strategic Review1416FY2023 CITY CHIC COLLECTIVE ANNUAL REPORT 3FIERCELY FASHIONABLEEVERYDAY ESSENTI
2、AL FASHIONA GLOBAL COLLECTIVE OF PLUS-SIZE BRANDSCity Chic Collective is a global omni-channel retailer specialising in plus-size womens apparel,footwear and lingerie.It is a collective of customer-led brands and has a strong following in Australia,New Zealand and USA.Our omni-channel model comprise
3、s of a network of stores across Australia and New Zealand(ANZ)and websites operating in ANZ and the USA.The collective of brands are also available through third-party marketplace and wholesale partners.Annual Report 2023|City Chic Collective OverviewGLOBALPLUS-SIZECUSTOMER LEDOMNI CHANNELWORLD OFCU
4、RVESWE ARE A FY2023 CITY CHIC COLLECTIVE ANNUAL REPORT 5Annual Report 2023|2023 Snapshot2023 Snapshot$268.4mSALES49.9m970k86ANNUAL ONLINE TRAFFIC2 ACTIVE CUSTOMERS1NUMBER OF STORES76%688ONLINE PENETRATION3EMPLOYEES1,2,3Please refer to page 119 FY2023 CITY CHIC COLLECTIVE ANNUAL REPORT 7FINANCIAL PER
5、FORMANCE OVERVIEW The year saw us navigate challenging trading conditions across all of our markets,with increased pressure on consumer demand necessitating heavy promotional activity to drive sales.We also prioritised the rightsizing of our inventory base,reducing inventory by 72.5%to$53.8 million,
6、which is a more appropriate level given current and forecast trading conditions.As a result,we achieved a net cash position of$10.9 million at the year-end,a$14.9m improvement on the prior year.Revenue for the year from the continuing businesses(excluding EMEA)was$268.4 million,down 15.8%from FY22(a