Major Australian retailers Cettire, Breville tank on Donald Trump tariff news
Shares in major Australian retailers relying heavily on sales in the US have tanked amid growing concerns about the impacts of US President Donald Trump’s tariffs.
Global luxury retailer Cettire shed 14.5 per cent to 68¢ after warning investors on Thursday it would be forced to push up prices in response to the sweeping changes.
“Cettire is currently assessing the full implications of these tariff changes on the company and its global operations, noting that several major luxury brands have indicated they would seek to increase pricing of luxury goods in the US market to mitigate possible tariff changes,” it said in a statement.
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By continuing you agree to our Terms and Privacy Policy.Cettire said about 41 per cent of its total sales in the first half related to products manufactured in the EU and sold to US customers. Shipments below $US800 ($1274) continued to be exempt from duties and were unaffected by Thursday’s tariff announcements.
Its average order value in the first half was $821.
Meanwhile, shares in home appliances manufacturer Breville closed down 5 per cent to $30.05 after it warned input costs would likely increase for the 2026 financial year as a result of the tariffs. But it maintained its 2025 guidance for earnings growth of between 5 and 10 per cent.
The $4.5 billion company was already in the process of diversifying its manufacturing base away from China, where it makes 90 per cent of its products, by value, and sells about 45 per cent of it into the US.
It said this project was “well progressed” and its target locations were Mexico, Indonesia and Cambodia. The Trump administration slapped a 49 per cent tariff on all imports from Cambodia.
“This project may adjust as facts on the ground evolve,” Breville said in a statement.
“Regardless of the ultimate location, the group will benefit from added geographic diversification in its manufacturing base.”
Australia’s top wine producer Treasury Wine Estates reassured investors the 10 per cent tariff on Australian and NZ imports would have minimal impacts on the business.
It said brand contribution in the first half was made up of 15 per cent, or about $35m, from Australian and New Zealand produced wine, primarily for 19 Crimes and Matua. These brands are imported into the US as bulk wine and packaged locally in the US.
Treasury Wine Estates shares closed down 1.7 per cent to $8.95.
