While Kogan is currently showing a paper profit of 17%, it has now fallen more than 60% from late-2020 highs and now languishes near 6 month lows. There is a tidal wave of money in consumers savings accounts across the country, some retailers will see more of it than others as we head into Christmas. A recent survey showed consumers are flocking to omni-channel – retailers with both an instore & online offering with the trend expected to continue into Christmas. While Kogan may capture some of the flood, other retailers will find more of the flow.
We have covered our positive view on Shaver Shop (SSG) early last month here and view this as a better opportunity with lower risk
MM is neutral/ negative KGN, intending to switch into SSG.
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