Kogan profit smashed by COVID disruption
Online retailer Kogan has posted a disappointing 2022 half-year result after its profit sunk by 150 per cent to land it A$11.9 million in the red.
Online retailer Kogan has posted a disappointing 2022 half-year result after its profit sunk by 150 per cent to land it A$11.9 million in the red.
Kogan’s post-tax profit has fallen by a staggering 86.8 per cent year-on-year following months of interruptions caused by the COVID-19 pandemic.
The Australian Competition and Consumer Commission (ACCC) is putting the local e-commerce scene under the microscope as part of its broader Digital Platform Services Inquiry.
Kogan has touted a new record, claiming more than 3 million active customers, with the company’s founder and CEO Ruslan Kogan saying that it feels like his company is just getting started.
Online electronics retailer Kogan has been slapped with a $310,800 infringement notice after it sent out more than 42 million marketing emails to consumers from which they could not easily unsubscribe.
Electronics retailer Kogan has been fined $350,000 for holding a ‘sale’ that saw hundreds of items cost the same as, or more than, their original price.
Ruslan Kogan, founder and CEO of the online electronics retailer that bears his name, has signalled a new era for the world of retail as his company emerges from a turbulent FY20 with substantial increases in sales, revenue and profit.
Ruslan Kogan has lauded his company’s ‘smart shoppers’ and the ‘transparency’ of the e-commerce industry just days after Kogan Australia was found to have made ‘false and misleading representations’.
The Federal Court has found Kogan breached the Australian Consumer Law by making false and misleading representations about an end of financial year sale in 2018.
Publicly listed online retailer Kogan.com has launched a $100 million placement at an offer of $11.45 per share, with further plans to raise up to $15 million.
Kogan has admitted one of its delivery companies suffered a cyber attack during one of its biggest shopping seasons since going public.
Retailer Kogan is pitching its online marketplace as a major growth market following a recent sales surge.
Online tech retailer Ruslan Kogan and Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar are among the local entrepreneurs to have topped the latest AFR Young Rich List.
Kogan has conceded that it wasn’t doing well enough to resolve certain customer complaints earlier in the year but has since made improvements.
Kogan could face court over allegations it increased the price of more than 600 products before offering a 10 per cent discount on them.
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16 November 2023