Australia's Kogan.com hits over 2-year low on weak quarterly performance

Kogan.com

29/04/2022 02:28

** Shares of the online retailer  KGN.AX  slip as much as
12.3% to A$3.980, their lowest since March 2020 
    ** Co says Q3 gross sales fell 3.8% y/y on poor consumer
demand  urn:newsml:reuters.com:*:nGLF3SfSl2
    ** Profit declined 11.2% to A$41 mln ($29.16 mln)
    ** Stock has lost 16.8% in value so far this week, and is on
track for its worst week since Jan. 28 
    ** Shares to mark worst session since Feb. 25 if losses hold
    ** More than 1 mln shares change hands, compared with the
30-day average of 566,347 shares  
    ** Stock down 48.5% this year, as of last close, vs a 0.4%
decrease in the S&P/ASX 200 index  .AXJO  

($1 = 1.4061 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))