Plus-size clothing group City Chic was punished by investors spooked by higher inventory levels and weaker trading conditions after a bumper six months during lockdowns. But investors looked through fast-fashion jewellery group Lovisa’s move to hold more stock.

Shares in Lovisa, backed by Brett Blundy, rose 11 per cent as investors rewarded new chief executive Victor Herrero’s plans for ambitious store roll-outs and a renewed focus on the group’s digital sales offering.