Its Over, page-22450

...this CTT chart below has not been updated but the stock crashed -38% this morning on profit warning.

...this underscores the need to take profits when it presented rather than Buy and Hold.

...you knew that consumer spending is slowing considerably and that sooner or later it would hit luxury goods.

5 year view
CTT Stock Price and Chart — ASX:CTT — TradingView
Cettire flags profit warning

Joshua Peach

Cettire says its fourth quarter trading has been hit by a downturn in the online luxury goods industry.

“The operating environment within global online luxury has become more challenging,” the company said an ASX announcement ahead of trading this morning.

“Multiple listed luxury businesses have described softening demand trends and increased promotional activity, leading to a tougher margin environment.”

Founder and chief executive Dean Mintz said the quieter market – as well as an increase in discounting – had been visible across the company’s footprint.

“Additionally, we believe the market is currently being impacted by clearance activity as certain players exit parts of the market,” he said in a statement.

Cettire is expected to release its full-year results in the second half of August.
Pre-trading data from CommSec shows traders are bidding down the stock following the announcement.