Sales growth at Cettire has slowed, with the online luxury retailer on track to record just half the earnings investors expected for the six months to the end of December, a disclosure that sent shares plunging.
The company told shareholders that revenues had jumped to $155 million in the three months to September 30, a 22 per cent rise on the same period last year. Sales grew 5 per cent at the start of this quarter, Cettire said.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
