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The Creso Pharma Ltd (ASX: CPH) share price is on the move today, reversing yesterday’s losses. This comes as the cannabis and psychedelics company released a positive update to the ASX on Monday.

During morning trade, Creso shares are swapping hands for 12.5 cents apiece, up 4.17%.

What did Creso announce?

According to its announcement, Creso advised it secured two new purchase orders from Swiss-based health products distributor MHG GmbH (MHG).

The purchase orders consist of Creso’s cannaQIX hemp seed oil lozenges and cannaQIX 50mg lozenges. The human health products are designed to support patients suffering from chronic pain as well as other conditions.

The lozenges dissolve rapidly in the mouth and are absorbed directly into patients’ bloodstreams. This allows the active ingredients to work faster than traditional capsules or tablets.

The value of the shipment is worth around $337,500 and is expected to be delivered as soon as possible.

Creso noted that the new purchase orders represent an important milestone in strengthening its export business. The products are to be sold through MHG sales channels into countries such as Macedonia, Albania, Serbia, and Croatia.

Both companies are collaborating further, discussing additional purchase orders for Creso’s animal health products.

Creso Swiss International Operations CEO Jorge Wernli commented:

We are very pleased to have secured these POs from MHG and it is a clear sign that our export business for human health products is beginning to scale up again. The POs will add to the Company’s growing revenue line, as well as allow Creso Pharma to expand into new countries.

This is a key milestone on our journey and commitment to strengthening Creso Pharma’s export business and geographic expansion, which we anticipate will unlock value for shareholders.

About the Creso share price

It’s been a tough 2021 for Creso shareholders, watching the company’s value fall by more than 30%. However, when looking at the course of the last 12 months, its shares are up 257%.

Based on today’s price, Creso presides a market capitalisation of roughly $150 million, with approximately 1.2 billion shares outstanding.

The post Creso (ASX:CPH) share price edges 4% higher following export deal appeared first on The Motley Fool Australia.

More reading

• Creso Pharma (ASX:CPH) share price jumps 16% on merger termination & NASDAQ plans
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Cirralto Ltd (ASX: CRO) share price has jumped straight out of the starting blocks on Tuesday morning. This follows the announcement of Cirralto entering an agreement to acquire eCommerce software company, Greenshoots Technology.

At the time of writing, the Cirralto share price is exchanging hands for 6.6 cents a share, up 3.13%. Despite the gain today, shares in the company have slumped 12.3% over the past month.

Let’s run through the details of the Greenshoots acquisition.

eCommerce offering bolstered with Greenshoots

Investors are bidding up the Cirralto share price in early trade after its latest announcement. Already, after only one hour of trade, more than twice the daily average volume has been traded.

According to the release, the company has executed a binding share sale agreement to acquire Greenshoots Technology. The acquiree is a software house that specialises in online retailing technology, providing a white-labelled e-Commerce platform to small and medium-sized businesses.

In the announcement, Cirralto explained that Greenshoots’ intellectual property completes its retail solutions capabilities. After integrating its offerings, the company can focus on eCommerce payments and consumer pay-later services. This is in a bid to capture a greater portion of the estimated $50 billion Australian eCommerce opportunity.

Furthermore, once integrated into Cirralto’s Spenda ecosystem, Greenshoots will be rebranded as Spenda eCommerce — offering Spenda payment services to its customers natively. If the Cirralto share price is anything to go by, investors appear optimistic for this development.

The transaction is on a 100% all-scrip basis, with Cirralto paying an upfront consideration of $1.5 million. Additionally, a further $3.6 million will be contingent on product delivery and revenue milestones being achieved.

Importantly, the acquisition will add a plethora of eCommerce functionality. This includes multi-channel sales and fulfilment management; integration services and workflows with freight providers and 3PLs; and access to global markets.

CEO commentary

Commenting on the acquisition, Cirralto CEO Mr Adrian Floate stated:

The acquisition of Greenshoots into the Cirralto product portfolio will enable us to immediately service businesses looking for an integrated, powerful eCommerce solution.

Unlike other eCommerce providers, the integration behind the Greenshoots solution means we can essentially ‘plugin and play’ the service with our existing Spenda solution. The benefit to customers is huge, not only are they able to sell online, take payment and transact smoothly, but the capabilities of Greenshoots IP mean we are able to push out our inside sales feature and delivery partnership channels at an accelerated pace.

Cirralto share price snapshot

The past 12 months have been a rollercoaster ride for shareholders. The Cirralto share price has been as low as 2.9 cents a share and as high as 21 cents a share.

Fortunately, shareholders have enjoyed a 78% gain over the past year. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) returned 25.4% during the same period.

The post Cirralto (ASX:CRO) share price lifts on Greenshoots acquisition appeared first on The Motley Fool Australia.

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• Creso (ASX:CPH) share price edges 4% higher following export deal
• Crown (ASX:CWN) share price seesaws amid mandatory vaccination policy
• Why the Atomo Diagnostics (ASX:AT1) share price has soared 30% in a week
• Why the Telix (ASX:TLX) share price is rocketing 6% today

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Crown Resorts Ltd (ASX: CWN) share price is wobbling today. It comes after reports the company is looking at implementing a mandatory COVID vaccination policy for all its staff and visitors to its sites.

At the time of writing, shares in the casino operator are trading for $9.59 — down 0.31%. However, they have been as high as $9.72 in morning trade. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is 0.25% lower.

Let’s take a closer look at today’s news.

Jab for a job

Crown Resorts has announced a “more proactive stance” on jabs and is now mandating it rather than encouraging it among their employees. This news has received a mixed reception from investors – at least, by looking at the Crown share price alone.

According to reports, the group’s CEO, Steve McCann, is in talks with his workforce and government departments to create a plan for a vaccine rollout at the company’s three locations in Sydney, Melbourne, and Perth. While the company has not said it will mandate inoculation for patrons, it has not ruled it out either.

In a statement, Crown said it will begin to “urgently consult its stakeholders and employees regarding mandatory vaccination which could apply to all its staff and members of the public who plan to visit or stay at any of its resorts around Australia”.

A recent survey conduct by Crown management reportedly shows 60% of its employees were already either fully or partially vaccinated.

Management commentary

McCann said of today’s announcement:

At Crown, we care about creating a safe environment for our people and our customers. As such a significant hospitality employer in Australia with resorts that hosted over 30 million visits a year pre-Covid, we need to take measures to help keep people safe. That starts with our employees but also extends to our guests and the broader community.

Covid-19 has devastated the hospitality industry, and that has been felt acutely by our people. Supporting the vaccination target rates set by governments is going to help our industry reopen, stay open and recover faster so we will play our part to help our industry get there. We will continue to explore ways to make it faster and easier for our people to come back to work.

Crown share price snapshot

The Crown share price has had a difficult time recently. All the gains the company saw when first approached about a potential takeover have been wiped out as controversy and uncertainty continue to surround the business.

The Victorian Royal Commission into Crown’s gaming licence is due to hand down its findings next month. One option being considered is revoking said licence.

The Crown share price is down 3% year to date but has gained almost 5% over the past 12 months.

Crown Resorts has a market capitalisation of $6.5 billion.

The post Crown (ASX:CWN) share price seesaws amid mandatory vaccination policy appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Atomo Diagnostics Ltd (ASX: AT1) share price has gone berserk in the past week.

In the last 7 days, shares in the medical device company have soared more than 30%.

Let’s take a look at why the Atomo share price is flying.

Demand for rapid testing fuelling Atomo share price

In the past week, Atomo has not released any price-sensitive news that could explain the bullish price action.

As a result, various other catalysts could be fuelling investor demand for the company’s shares.

With the Delta outbreak threatening to get out of hand in Australia, there has been increasing demand for rapid testing solutions.

Australia has largely relied on pathology testing in fighting the COVID-19 pandemic.

However, various sources have reflected concern on their turnaround time for results.

Pathology testing can take up to three days to deliver a result, by comparison, rapid antigen tests can detect COVID-19 in as little as 10 minutes.

Atomo is one of the few listed companies in Australia that has produced rapid COVID-19 testing.

Of particular interest is the company’s rapid antibody test CareStart EZ COVID-19, which was developed in conjunction with its partner Access Bio.

Earlier this year, Access Bio received Emergency Use Authorisation (EUA) from the U.S. Food and Drug Administration (FDA) for point-of-care use of its CareStart EZ COVID-19 test.

The biotech has supplied its CareStart EZ COVID-19 test to various Olympic and sporting teams, whilst also supplying aged care providers.

More on Atomo

Atomo is a medical device company that supplies rapid diagnostic test devices to the global diagnostic market. The company’s patented devices simplify testing procedures and enhance useability for professional users.

The biotech recently published its full-year results for FY21, which was highlighted by a 25.1% increase in revenue to $6.72 million.

Other highlights from Atomo’s report included;

• Cost of sales up 52% to $3.3 million
• Gross profit up 7% to $3.42 million
• Underlying operating loss widened 101% to $4.79 million
• Cash balance of ~$18 million

According to Atomo, revenue was largely driven by consumer demand in Europe and North America for its COVID-19 antibody tests.

At the time of writing, shares in Atomo are trading slightly lower for the day at 28 cents.

The post Why the Atomo Diagnostics (ASX:AT1) share price has soared 30% in a week appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Telix Pharmaceuticals Ltd (ASX: TLX) share price is up almost 6% in early trade.

Below, we take a look at the ASX biotechnology company’s announcement of its approval to conduct a clinical trial.

What did Telix announce?

The Telix share price is up 5.94% this morning to $6.96 after the company reported positive progress for its investigational kidney cancer therapy, TLX250.

In another step forward for TLX250, the United States Food and Drug Administration (FDA) has accepted the Investigational New Drug Application (IND) to commence a clinical study of the experimental treatment.

Telix expects to enrol 29 patients with advanced clear cell renal cell carcinoma (ccRCC) in its STARLITE 2 study. The goal of the study is to determine the efficacy of combining immunotherapy with TLX250.

Commenting on the study, principal investigator Darren Feldman said:

Each year 76,000 Americans will be diagnosed with kidney cancer, therefore it is important we continue to explore new treatment options. The selective targeting of TLX250 to CA9 delivers radiation therapy directly to ccRCC tumours. Combining this innovative approach with anti-PD-1/PD-L1 therapy could enhance existing immune-based treatments.

Telix chief medical officer Colin Hayward added:

The introduction of immunotherapy agents has improved the outlook for patients with advanced clear cell renal cancer, but most patients eventually progress. This therapy, along with patient selection and treatment response assessment with our CA9-targeting imaging agent TLX250-CDx may potentially offer a new paradigm of more accurate staging and personalised treatment for kidney cancer patients through a “theranostic” approach.

Today’s FDA approval comes on the heels of yesterday’s announcement revealing that Telix had “entered into an exclusive commercial distribution agreement with Bologna-based Radius” to distribute Illuccix – a cancer imaging tool – in Italy.

Telix share price snapshot

Over the past 12 months the Telix share price has soared 279%, well outpacing the 27% gains posted by the All Ordinaries Index (ASX: XAO).

Telix shares have continued to move higher over the past month, up 21%.

The post Why the Telix (ASX:TLX) share price is rocketing 6% today appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Propel Funeral Partners Ltd (ASX: PFP) share price is edging higher on Tuesday after the company announced three material acquisitions.

At the time of writing, the Propel Funeral Partners share price is up 5.54%% to $4.00.

What did Propel acquire?

Propel announced this morning that it has executed binding sale agreements to acquire three funeral services businesses.

The three businesses include:

• Berry Funeral Directors located in Norwood, Adelaide
• Glenelg Funerals located in Glenelg, Adelaide
• State of Grace which operates from two locations in Auckland

Together, the businesses perform approximately 1,200 funerals per annum and generated combined revenue of $9.0 million in the most recent financial year. Propel Funeral Partners expects the acquisition to be earnings accretive in year one.

Propel will acquire the three businesses and related assets and infrastructure for a total consideration of up to $17.6 million.

According to the announcement, $15.2 million in cash and $0.2 million in shares (subject to escrow arrangements) will be paid on the completion of the proposed transactions.

In addition, $2.2 million will be payable in cash if certain financial milestones are achieved during the three years following the acquisition.

The acquisition will be funded by existing debt facilities.

The acquisition will expand the company’s network in Australia and New Zealand. It will also drive entry into a new metropolitan market in Adelaide and expand its presence in Auckland.

Excluding the acquisition, Propel Funeral Partners currently operates 136 locations across Australia and New Zealand. This includes 2 sites in South Australia and 25 in New Zealand.

Propel Funeral Partners share price snapshot

The Propel Funeral Partners share price has rallied strongly in 2021, up 40% year-to-date.

The post Propel Funeral Partners (ASX:PFP) share price lifts 5% on acquisition news appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Propel Funeral Partners Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The AMP Ltd (ASX: AMP) share price has continued to decline over the past month. This comes despite the financial services company not releasing any new market sensitive news since its half-year results last month.

At the time of writing, AMP shares are edging 0.19% to $1.037. It’s worth noting that the company’s share price is nearing its all-time low of $1.04 reached on 30 July.

What is going on with AMP shares?

It has been a challenging period for AMP shareholders, with no indication of when the heavy selling will stop.

The company’s financial scorecard produced a largely positive performance.

Net Profit After Tax (NPAT) grew to $181 million, up 57% on the prior corresponding period. This was mainly driven by an increase in Australian wealth management assets under management (AUM) of $121 billion, up 8%.

In addition, Australian wealth management net cash outflows came to $2.7 billion. A massive improvement compared to the $4 billion in net cash outflows recorded in first-half of FY20.

Controllable costs excluding AMP Capital, stood at $387 million, down 6% caused by lower disciplined cost management.

Nonetheless, the AMP share price has been trading at record lows since ASIC commenced proceedings against the company in May.

According to financial regulator, AMP wilfully deducted life insurance premium and advise service fees from superannuation accounts of deceased customers.

The company stated that action has since been taken to correct the error. It has been conducting a thorough review of its policies and processes. The matter was later covered in the financial services royal commission.

So, what’s the outlook for the FY21 full year for AMP?

Looking ahead, the group is projecting controllable costs of $775 million, which is in line with the prior guidance.

AMP is expecting the Global Equities and Fixed Income (GEFI) and Multi-Asset Group (MAG) to internally separate in FY21. The demerger program is scheduled for completion by the middle of FY22. This will see the transition of MAG from AMP Capital to AMP Australia, creating a superannuation and investment platform business.

Loan growth momentum for AMP Bank is expected to continue to run into the second half while AMP Capital earnings are forecasted to decline. The group stated that this is due to lower performance and investment returns.

AMP share price snapshot

The last 12 months have been yet another disappointing result for AMP shares, falling by more than 30%. When looking at the last 5 years, these losses are magnified even greater, dropping around 80% in value.

Based on today’s price, AMP presides a market capitalisation of roughly $3.38 billion and has 3.2 billion shares on issue.

The post The AMP (ASX:AMP) share price has fallen another 7% in a month. What’s next? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The tech business Siteminder may be getting closer to an initial public offering (IPO). Investors can already indirectly access exposure to Siteminder through tech investor Bailador Technology Investments Ltd (ASX: BTI).

What is Siteminder?

Siteminder is a hotel booking business. It is one of the world leaders in connecting hotels to online distribution channels for bookings. The company says that there are 35,000 hoteliers globally that are already using Siteminder.

It offers a number of services such as channel manager (including revenue insights), a hotel booking engine (including rate parity insights), competitive and market insights and hotel website design.

Bailador says that Siteminder generates more than $100 million of annualised recurring revenue through a subscription revenue model with a gross margin of more than 70%. It is reportedly triple the size of the nearest competitor and has an addressable market of 1 million hotels.

That revenue comes from more than 160 countries, with 80% of revenue from international markets. It has a skew towards the leisure market, which was described as more robust.

Bailador says that Siteminder exhibits resilient characteristics of a software as a service (SaaS) revenue model and is valued as a premium SaaS business.

How has COVID-19 affected the business?

COVID-19 has been tough on ASX travel shares that have been impacted by restrictions and limited demand over the last year and a half. Businesses like Webjet Limited (ASX: WEB), Flight Centre Travel Group Ltd (ASX: FLT), Sydney Airport Holdings Pty Ltd (ASX: SYD) and Corporate Travel Management Ltd (ASX: CTD) continue to be impacted.

However, Bailador says that performance has been managed prudently during COVID-19. Despite significant difficulties for the travel industry, Siteminder has experienced flat revenue over the 12 months to 30 June 2021.

Bailador believes that the hotel booking business is positioned for “rapid growth” as travel volumes increase.

Is Siteminder about to IPO?

Siteminder is one of Bailador’s largest holdings. At the time of the ASX tech investor’s FY21 result, it said that IPO preparation was underway, including ensuring appropriate governance for a public company.

According to reporting by the Australian Financial Review, Siteminder has just finished a funding round of at least $100 million. It is not rushing to IPO, but it is expected that an IPO will occur in FY22. Many of the investors in that funding round were investors that Siteminder already had an association with.

The AFR said that the Siteminder CEO Sankar Narayan noted the business has continued to invest in its technology and offering. Mr Narayan also said that Siteminder is aiming for further global expansion, to add on to its recent European expansion, particularly in German-speaking countries.

However, referring to the timing of a potential IPO and whether it related to the return of travel, Mr Narayan was tight-lipped. He said:

For a lot of reasons I can’t talk about that, I can’t actually talk about an IPO or any IPO plans.

The post Is hotel booking tech company Siteminder close to an IPO? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bailador Technology Investments Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended Bailador Technology Investments Limited and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Investors in Wesfarmers Ltd (ASX: WES) shares would be licking their lips right now. The Aussie retail conglomerate is set to return a significant chunk of capital to shareholders after posting a $2,421 million full-year net profit after tax.

Wesfarmers bumped its full-year dividend up 17.1% to 178 cents per share in August and announced a $2.3 billion capital return to shareholders.

However, investors aren’t the only ones set for a handy boost to the hip pocket. CEO Rob Scott is in line for a bumper pay day if approvals are granted at the company’s annual general meeting (AGM).

Why investors in Wesfarmers shares are set for a big payday

According to an article in The Australian, shareholders will vote on a $7.37 million performance bonus package for Scott.

That comes after a year in which Wesfarmers and its key brands weathered the COVID-19 pandemic. In fact, the Aussie conglomerate posted a 10% increase in revenue to $33,941 million.

Bunnings, Kmart Group and Officeworks all contributed to earnings growth despite on-again, off-again restrictions across the country.

Now investors will be asked to approve the performance reward package for the company CEO. It’s been a solid year for Wesfarmers shares which have gained 27.4% in the past 12 months, not including dividends.

Scott is in line for two tranches of performance shares worth $7.37 million. The board is reportedly proposing $3.684 million in deferred performance stock and $3.684 million in performance shares.

The article notes that the performance shares agenda item last year passed with a 97.15 vote in favour from shareholders.

They’ll be waiting for their own reward for holding Wesfarmers shares after a promised $2 per share capital return.

Foolish takeaway

There’s something of a cash splash looming for Wesfarmers. CEO Rob Scott is in the box seat for $7.37 million of performance shares while investors await their own returns.

Wesfarmers shares are worth watching on the ASX as Australia eyes a re-opening of the economy following COVID-19 restrictions in 2020 and 2021.

The post Own Wesfarmers (ASX:WES) shares? It’s about to be payday…for you and the CEO appeared first on The Motley Fool Australia.

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• Why the Woolworths (ASX:WOW) share price has outperformed Wesfarmers so far this year
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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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We all know the damage that pandemic lockdowns and social restrictions have done to the retail sector. Traditional retailers – particularly those with a large brick-and-mortar presence – have struggled over the last 18 months.

Despite a recent rally, shares in Myer Holdings Ltd (ASX: MYR) are barely above their pre-COVID levels. And shares in Kathmandu Holdings Ltd (ASX: KMD) are still almost 50% off their February 2020 prices. Many other ASX retail shares have also suffered similar declines.

But despite these difficult market conditions, there is a new generation of ASX retail companies that have seen their share prices soar during the pandemic. These are companies with little (or no) physical shopfronts and that rely almost entirely on digital sales channels.

Investors have been favouring these companies over their traditional peers – and have sent their share prices rocketing into the stratosphere.

Let’s look at three of the ASX retail shares with some of the biggest price gains so far this year.

Dusk Group Ltd (ASX:DSK)

Dusk only listed on the ASX in November 2020 – but has already made quite an impression. Its shares are up almost 40% so far in 2021 (to $3.10, as at the time of writing).

Dusk specialises in home fragrance products such as candles, diffusers and essential oils. With people spending a lot more time at home during lockdowns, it’s easy to see why demand for its products has spiked.

However, Dusk is also something of an outlier on this list as it still makes the majority of its revenues through traditional channels. That said, online sales increased by 27% in FY21 and made up 7.5% of the year’s total sales.

FY21 was a bumper year for the company with sales up over 47% (to $148.6 million). As well, disciplined cost management meant that pro forma net profit after tax (NPAT) surged over 225% year-on-year (to $26.8 million). Pro forma NPAT is reported NPAT adjusted for some one-off items – the most notable of which was $6.6 million in costs associated with the company’s initial public offering.

City Chic Collective Ltd (ASX:CCX)

City Chic specialises in plus-size women’s fashion. It has expanded significantly during the pandemic and now has a strong presence in both the US and UK markets. City Chic also has a brick-and-mortar presence but pivoted strongly towards its digital sales channels last year.

City Chic reported sales revenues of $258.5 million for FY21, a year-on-year increase of almost 33%. This was driven by online sales which jumped 49.3% and made up more than 70% of City Chic’s total sales for the year. The result also showed the benefits of the company’s international expansion plans with more than 44% of sales coming from overseas markets.

The City Chic share price has surged almost 60% higher this year to $6.30 (as at the time of writing) and just recently set a new 52-week high price of $6.49.

Cettire Ltd (ASX:CTT)

The standout performer on this list of ASX retail shares is online luxury fashion retailer Cettire. Its share price has rocketed a scarcely believable 602% higher so far in 2021 to $3.49 (as at the time of writing). The massive share price gains have come on the back of incredibly strong FY21 financial results.

The company beat its own upgraded earnings guidance for the year, reporting sales growth of 304% year-on-year (to $92.4 million). The result also showed that the company was beginning to develop a loyal customer base, with 40% of FY21 sales from repeat customers (up from just 26% in FY20).

The positive momentum seems to have carried forward into FY22, with July unaudited gross revenue up 181% versus July 2020.

The post These three ASX retail shares delivered double (and triple!) digit returns in 2021 appeared first on The Motley Fool Australia.

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• Why the Cettire (ASX:CTT) share price is slumping 5% today
• The Cettire (ASX:CTT) share price is up a whopping 500% this year
• Why the Cettire (ASX:CTT) share price rocketed 24% higher on Friday

Motley Fool contributor Rhys Brock has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Cettire Limited. The Motley Fool Australia has recommended Cettire Limited and Dusk Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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