Stocks of the Hour: City Chic, Michael Hill & Virtus Health

Company News

by Lauren Evans

City Chic (ASX:CCX) has seen revenue growth despite supply chain issues and labour shortages due to the pandemic in the half year to December last year. The plus size fashion retailer has stocked up on inventory to proactively manage the risk, which is set to help them with their financial targets. Shares are trading 6.9 per cent higher at $4.78.

Michael Hill (ASX:MHJ) delivered record Christmas results despite the company dealing with store closures due to the rapid spread of Covid-19. The jewellery retailer reported that all store sales were up 9.8 per cent in the second quarter of this financial year. Like City Chic, they've managed their inventory and now have a healthy cash position. Shares are trading 1.8 per cent lower at $1.41.

Elsewhere in the healthcare space, due to the NSW Government suspending all non-elective surgery from the 10th of this month, Virtus Health (ASX:VRT) are unable to quantify the financial impact. Shares are trading 0.6 per cent higher at $6.70.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.