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CCX - City Chic Collective

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System

System

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Specialty Fashion Group Limited (SFH), formerly Miller's Retail Limited (MRL), is a specialty fashion multi-branded women's apparel retailer and brand owner, tailored mostly to women of various ages and sizes. The company operates the Millers, Crossroads, Katies, Autograph, City Chic, and Queenspark branded stores. Most stores are located on the Eastern seaboard, with the rest throughout Australia and NZ. Its strategy is to focus on the value end of the market. The company increased the net number of stores by 30 in 2009 to a total of 843 stores.

http://www.specialtyfashiongroup.com.au
 
Remember Miller's Retail (now Specialty Fashion Group)? Well, after sinking from around $1.20 in April 2013 to 10c in December 2017, it appears to be staging a bit of a turnaround.

I'm pretty skeptical of bricks and mortar retail, so I won't be getting involved, but Specialty Fashion Group managed to make some good ground last week while global financial markets were in turmoil.

Whether this is the beginning of a real turnaround or just another blip on its long term downward slide remains to be seen.

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Specialty Fashion Group up today on news that it is selling off some of its brands as part of a structural review. An offer has been received by Anchorage Capital Partners for the acquisition of City Chic and Autograph for A$100 million in cash.

The market is seeing this news as a good thing and has pushed up SFH's share price 17.61% to 41.7c.

I suppose cash is better than a struggling bricks and mortar retail brand. Women's fashion is a pretty cutthroat market. A$100 sounds like a reasonable enough deal. If it goes through.
 
Specialty Fashion Group has concluded its structural review and will be retaining its profitable City Chic business and selling its Millers, Katies, Crossroads, Autograph and Rivers businesses to Noni B Limited for $31 million in cash.

The SFH share price has spiked higher on the news and is currently trading at 56.5c, up 48.68% on Friday's close of 38c. There appears to be some resistance at 65c, so it will be interesting to see whether or not it will be able to break through that level and head higher in the short term.

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Specialty Fashion Group continues to outperform. SFH would have to be the best performing retail stock of 2018.

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On November 27th, 2018, Specialty Fashion Group Limited (SFH) changed its name and ASX code to City Chic Collective Limited (CCX).
 
I drew this chart from 2004. I really like long term charts. There is a kind of truth about them. If I said they speak to me, that would sound wierd. I am dyslexic, so therefore I am wierd. :)

System said:
On November 27th, 2018, Specialty Fashion Group Limited (SFH) changed its name and ASX code to City Chic Collective Limited (CCX).
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This is interesting Joe. To me it looks like a real company. The long term view seems reliable (chart view). (It doesn't look like a pump and dump). However when I put 'ASX CCX' into google search, I get no chart. It just may be there is a transition period. I am wondering if it is a classy pump and dump as most of the other pump and dump charts look seriously suss with a familiar pattern but not this one.
I may just be suffering from a conspiracy theory overload. Anyhow, whatever, here is the chart with no comment, because I can't at the moment (face smash). However I see $1.24 as the support line. I have drawn higher support/resistance lines on the way up. The PVI is off its face but not in a way I get excited about. More like a pump and dump PVI. There are certainly volumes associated with this chart. Perhaps tech/a can elaborate if he is around and sees this post.
Chart, no comment, no prediction, simply lines of support/resistance. Decide on your own entry/ exit levels.
 
A solid 1H FY19 financial result for CCX has resulted in the share price gapping up to be currently trading at $1.35, up 28.6% on yesterday's close. Here are the highlights:

screenshot-stocknessmonster.com-2019.02.14-12-52-51.png


A surprising result given the challenging bricks and mortar retail landscape. Looks like it might be ready to challenge that previous high of $1.455 in the short term.

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It's been added to the All Ordinaries. I'm not aware of any index fund that tracks that broad an index, but it should slightly increase its exposure.
 
nice looking chart for the last year or 2, or 3, or 4. Now over $6.

Some words from an investor Sandon Capital (SNC) which positions itself as "activist value" in its approach

CCX epitomises our earlier comment about reaping rewards greater than initially anticipated. When we first purchased the CCX, under its former name Specialty Fashion Group Ltd, we were aware of the potential of the City Chic brand, but did not fully appreciate the opportunity the business had in front of it. As management began to hone its acquisition strategy and elaborate on the opportunity in the womens plus size clothing market, it became apparent the growth potential was significantly larger than we had originally anticipated.
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As the adage goes, when the facts changed, we changed our minds. Management have demonstrated a disciplined and opportunistic approach to making acquisitions, which we think is uncommon. Recent bolt on acquisitions in the US, the UK and Europe have provided CCX with a global platform with which to sell its highly sought after fashion to an underserved consumer base. Today, the company has a small market share of a $100bn end market that is growing at 3 to 5% per annum, providing an opportunity for many years of organic growth. We expect the high quality management team at CCX to continue to deliver strong returns for shareholders for the foreseeable future.
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A clothes retailer at over 60 PE! With debt. Great while it lasts, then look out!

(I own one of these clothes horses, GLB, similar crazy multiples. Its all about the cost base, my concern is for those tempted to buy at these prices.)
 
galumay said:
A clothes retailer at over 60 PE! With debt. Great while it lasts, then look out!

(I own one of these clothes horses, GLB, similar crazy multiples. Its all about the cost base, my concern is for those tempted to buy at these prices.)
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Yeah, fair comment. Leveraging that cost base. ... good while it lasts. The fickle fashion world ... all about stock management.

Must say the unconscious use of words ... "womens plus size clothing market, ... the growth potential was significantly larger " brought a smile, and I misread "undeserved client base" as 'undeserved'.
 
LOL, I also read underserved as undeserved. Had to go back and look at the word twice to get the meaning of the sentence.
 
Miner said:
Just a lazy search on CCX seeing no posting for 5 months or so.
What the chart specialists say on this chart ??
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I probably shouldn't be commenting as I am not really a chartist, I just fool around with trends and patterns. It looks to me like possible support around the $4 mark and of it goes below the high $3s then $2.50.
 
@Miner fwiw it's not a chart I would buy despite yesterday's buying support.
The Daily chart has two gap downs = rapid decline.

On the 2 year weekly chart what do we see?
The strong uptrend support was broken 6 weeks ago.
The price has broken the support of the August final low of the prior uptrend which is like a 'lower low'
I look for non orthodox head and shoulders patterns and to me the topping shape above $5 is a H&S stretching from June to December - the neckline I take as $5, the head as >$6.50 which gives a height of 1.50 indicating a target down from the neckline of $3.50 or $3

What would change my mind would be an unexpected rapid recovery above $5 - or a weekly candlestick pair indicating a reversal like, as an example, happened back in Wuhan March 2020 on this chart - that was a bullish engulfing pair and a hammer reversal candle.
End of astrology consultation :)

2 Year Weekly
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finicky said:
@Miner fwiw it's not a chart I would buy despite yesterday's buying support.
The Daily chart has two gap downs = rapid decline.

On the 2 year weekly chart what do we see?
The strong uptrend support was broken 6 weeks ago.
The price has broken the support of the August final low of the prior uptrend which is like a 'lower low'
I look for non orthodox head and shoulders patterns and to me the topping shape above $5 is a H&S stretching from June to December - the neckline I take as $5, the head as >$6.50 which gives a height of 1.50 indicating a target down from the neckline of $3.50 or $3

What would change my mind would be an unexpected rapid recovery above $5 - or a weekly candlestick pair indicating a reversal like, as an example, happened back in Wuhan March 2020 on this chart - that was a bullish engulfing pair and a hammer reversal candle.
End of astrology consultation :)

2 Year Weekly
View attachment 135690
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@finicky
Thanks mate.
All good but not another Wuhan please.
I would like to see the three years Corona degree from Wuhan and Pfizer is enough to earn a Bachelors degree in medicine, toxicology, finance, pharmacology and economics for many to earn trillions.
I don't want to see any one in doing a Master or Ph D on Wuhan or Pfizer over next 4 years.
 
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