Australian etailer Cettire has issued a trading halt this afternoon (May 29), pending material news.
The company made an ASX announcement, reporting that the trading in the securities of Cettire will be temporarily paused pending a further announcement.
Cettire has suffered blows over the last year, with much of it driven by US tariffs and the country’s de minimis exemption axing, impacting one of Cettire’s key global markets.
In the first half of FY26, the luxury platform reported a statutory net loss of $1.05 million in the first half of FY26. This follows its net loss after tax of $2.6 million reported in the full year FY25, and is down from a $4.7 million net profit in the first half of FY25.
The latest loss comes amid ongoing margin pressures, reportedly driven mostly by US trade policy. Cettire reported a delivered margin of $54.8 million, representing 14.3 per cent of sales. This was offset by significant increases in US duties costs, but buoyed by reduced discounting activity.
At the top line, Cettire’s gross revenue was down by $8.4 million, hitting $505.7 million by the end of the first half. Sales revenue totalled $382.8 million, down from $394 million recorded in the first half of FY25.
“The global luxury market has continued to face headwinds throughout H1-FY26, with persistent inflation pressure and subdued consumer confidence,” Cettire founder and CEO Dean Mintz said in the H1 trading update shared on February 26 this year.
“Despite this backdrop, we have remained focused on executing our plan to grow Cettire’s share of the global personal luxury goods market while remaining self-funding.”
Mintz added that the impact from the removal of the de minimis exemption in the United States – which exempted goods valued under US$800 from duties and taxes – contributed to ongoing challenges in Cettire’s largest market.
Despite this, all of the luxury platforms markets outside the USA saw a sales lift of 13 per cent year in the first half of FY26, balancing falls in North America. This does not include Cettire’s Australian market, where sales fell by around $468,000 to $21.43 million.
Mintz also noted that Cettire’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the first half of FY26 was $20 million higher than the last half of FY25. Adjusted EBITDA hit $8.7 million, which is down from $12.1 million reported in the first half of FY25.
Statutory EBITDA was $3.3 million.
With the halt just issued, an update to the market is expected to be made within two working days.
Kathmandu owner KMD Brands called a trading halt earlier this year ahead of announcing a capital raise. Trading halts are generally issued ahead of material news, and it is currently unclear why Cettire has issued one today.