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Cettire Ltd (ASX:CTT) has told the market it expects only 4% of its total gross sales to be impacted by Trump tariffs, with assessments underway.
Despite this apparently good news, shareholders aren’t so sure – the stock was down 15% heading into lunchtime trades at $1.23/sh according to Cboe live pricing.
It’s not like it’s just Cettire. At the same time, Fisher & Paykel Healthcare was down -7.3% after flagging it expects tariffs to push up its FY26 costs.
Cettire arrived upon its expectation only 4% of gross sales would be hit by looking at how much it makes from U.S.-based customers buying products via Cettire which are manufactured in the countries hit by tariffs.
That comes to about 7.5% of gross sales in FY24 from the U.S., equalling the 4% total gross sales figure.
But, clearly, this is still too high for investors – and, likely, many are not confident enough to say this is the end of the latest tariff flurry.
For those not following the news, Trump has placed tariffs on Mexico, Canada and China.
Mexico and China are perhaps obvious targets for Trump to target for tariffs given his well-known geopolitical stances on both countries, but for many people – evidenced by chatter online HotCopper and elsewhere – the fact Canada has been hit by tariffs is a head-scratcher.
At any rate, there’s little any Australian company can do.
It’s just another heaping of pain for Cettire, long-struggling with media reports scrutinising its CEO Dean Mintz; Mintz’s unfortunate habit of selling large share parcels on the cusp of bad news, and, ongoing questions around whether or not Cettire’s business model passes ATO pub tests.
CTT last traded at $1.28
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