Thoroughly embattled online luxury retailer Cettire (ASX:CTT) has clocked a rare green day intraday Friday – or at least what feels like one – on the back of its FY25 results.
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The company’s good fortunes (or those of investors) could perhaps be described as faith in a company for whom results mightn’t be as bad as feared.
Cettire posted a -$2.6 million loss, revenue was in line with FY24 at $975.3M, and active customers fell from 692,000 to 657,000 in the period. While the company has no debt, it did end FY25 with $37M in cash vs. $79M pcp. That was already well after troubles had started for the company.
“The global luxury market faced significant headwinds throughout FY25, contributing to a slowdown in demand, including persistent inflation and the flow-through impact to reduced consumer spending as well as growing trade and geopolitical tensions,” CTT chief Dean Mintz, for his part, said.
“Despite the challenging backdrop, we have remained focused on consistent execution against our plan to grow Cettire’s share of the global personal luxury goods market profitably.”
Clearly, revenue staying consistent – underpinned in strong part by promos, the company revealed on Friday – has been the saving grace for the stock on Friday. Margins fell -23% vs pcp.
Also nicely promising, the average order value climbed 3% to $820/order – but that’s maybe neither here nor there. Repeat customers provided nearly 70% of the overall revenues for the stock.
CTT last traded at 32.5cps today.
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