Full Year 2023 City Chic Collective Ltd Earnings Call Transcript
Thank you for standing by and welcome to the City Chic Collective Limited FY 2023 results.
(Operator Instructions) I would now like to hand the conference over to Mr. Phil Ryan, CEO and Managing Director. Please go ahead.
Thank you. And good morning, everyone, and thanks for joining us.
I'm Phil Ryan, CEO of City Chic Collective. And I'm joined today by Peter McClelland, our CFO. I'll talk briefly on the results. And I'll focus on the strategy to return to profitability and then talk about our outlook.
Moving to Slide 3. In 2023, our focus was on rightsizing the inventory and bringing the business back to a positive cash position in what was a challenging environment, and we've done that successfully. As outlined in May, we made the decision to accelerate the inventory clearance and are on track to have new and relevant product in our core markets for the key trading periods of Black Friday and Christmas. This has impacted our FY '23 results but puts us in a much
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