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Cettire downgrades profit again, shares crash 30pc

Carrie LaFrenz

The outlook for the global luxury goods sector remains bleak, Cettire chief executive Dean Mintz warned, as the company issued its second profit downgrade in less than two months, sending its share price tumbling.

The retailer, which sells brands such as Gucci, Moncler and Max Mara at steep discounts, also flagged a $4.7 million loss in the March quarter.

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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com

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    Original URL: https://www.afr.com/companies/retail/cettire-downgrades-profit-again-shares-crash-30pc-20250612-p5m6ua