Online luxury fashion retailer Cettire has reported a third-quarter loss of $4.7 million, its first deficit in three years. 

Investors were quick to react to the bleak news: The company’s share price had plunged 24.42 per cent to 49 cents by 5pm on Wednesday. 

The company’s sales revenue grew by 1 per cent from $191 million in the third quarter of 2024 to $192.5 million in the third quarter, and saw an 8 per cent increase in its active customer base to 695,738.

Cettire attributed the loss to its need to increase discounts due to constant tariff changes in the US, its primary market, which lowered demand for luxury goods. It also included a realised $2.1 million foreign exchange deficit. 

Heading into the fourth quarter, the company said it would implement growth initiatives supported by necessary marketing investments, improve margins by embedding cost-saving initiatives, and expand its footprint in emerging markets, potentially entering new ones.