Australia's Cettire eyes biggest weekly loss in about 1-1/2 yrs on media report

Cettire

08/03/2024 02:14

** Shares of Cettire Ltd  CTT.AX  down 19.7% so far this
week, set for their biggest weekly loss since Sept. 23, 2022, if
losses hold 
    ** For the day, Cettire shares down 3.2% by 0158 GMT 
    ** On Wednesday, an investigative local media report said
the luxury online retailer withheld duties to be paid to
Australian customs 
    ** Co, however, said all applicable duties and other import
charges are paid to the relevant authorities at the point of
customs clearance
    ** "In Australia, Cettire has a direct debit arrangement in
place with the Department of Home Affairs to facilitate direct
payment of applicable duties prior to customs clearance" - co
    ** Cettire shares down 38.3% YTD, as of last close 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))