ASX All Ords share Cettire Ltd (ASX: CTT) is leapfrogging its peers today. The online luxury goods retailer hit an intraday high of $2.17 — a 16% gain — after the company reported a 122% boost to sales revenue.
This is a new 52-week high for the ASX retail share.
The Cettire share price is currently trading at $2.03, up 8.85% on Monday's closing price of $1.87.
Cettire lodged a trading update with the ASX this morning.
Let's look at the details.
ASX All Ords share soars on doubled sales
Over the first four months of 2023, Cettire generated sales revenue of $141.3 million. This is up 122% on the prior corresponding period (pcp).
It also reported adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of at least $7 million, on a delivered margin greater than 20%.
The average order value over the four-month period was $742, up 8% pcp.
The ASX All Ords company said growth was accelerating, with April sales revenue alone up 160% pcp.
It expects to "maintain monthly growth rates at least at this level through the balance of FY23".
Cettire CEO Dean Mintz said:
It is particularly pleasing to see the Company's localisation strategy is delivering results, with revenue from its emerging markets outpacing the Group.
The revenue growth acceleration in April was underpinned by further growth in repeat customer revenue and an acceleration in growth in active customers.
Cettire is rapidly growing share in a large and growing global market, which benefits from the structural shift to online.
Cettire shares outperform the market
The Cettire share price is up by 63% in the year to date. The S&P/ASX All Ordinaries Index (ASX: XAO) is up 4.3% over the same period.
