Cettire has fallen to its first loss in three years after the online clothing retailer was forced to increase discounts as shoppers shunned luxury goods.
The company’s shares tumbled 24 per cent to 50¢ on Wednesday after the retailer, which sells products from brands such as Gucci, Moncler and Max Mara at steep discounts, 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
