Home > Latest News > Kogan Shares Continue To Tumble

Kogan Shares Continue To Tumble

Shares in struggling online retailer Kogan.com continue to fall, dropping a further 4.2 per cent in today’s trading, sitting at $3.43, at 4.40pm on Monday afternoon.

The company’s shares have fallen 9.74 per cent over the past five days. Last week, Credit Suisse informed investors they were downgrading Kogan’s shares to an “underperform” rating, slashing its forecast by almost a third, to $3.75-a-share.

It seems even this wasn’t aggressive enough.

Last late month, Kogan reported an 11 per cent fall in gross profit for the March quarter, with sales dropping by 3.8 per cent to just $262 million.

The company’s recent financial report explained Kogan had been “positioning the business for continued elevated growth in Gross Sales, with levels of inventory and operational capability developed accordingly.”

But, as they found, “consumer demand did not meet these expectations” during the quarter.

Which means they still haven’t gotten a handle on the warehouse bloat that led to its 2021 profits falling by close to 87 per cent.

Company shares are now down a massive 60.21 per cent for the year-to-date.

Considering the inventory bloat, coupled with slow sales, the question is, how long can Kogan go?



You may also like
JB Hi Fi Founder Claims There Is Only Room For A Select Few In OZ Online Market
Kogan Tanks Further As Questions Raised About There Inability to Sell Stock
It’s Official: Kogan An Online Shopping Basket Case
ACCC “Concerned” About Online Marketplaces
After Share Slump, Kogan Moves Into Insurance