Kogan.com (KGN) smashed after missing guidance
Kogan.com (KGN) –22.17%; the company gave a business update today, covering the trading conditions of the first half which look to have come in behind some lofty expectations the market had. The company has beaten out last year’s half yearly, piggy backed by its highest Black Friday and Boxing Day sales events with Exclusive brands and Kogan Marketplace continuing their strong growth driving active customer growth of more than 10% year on year.
Kogan had previously guided to sales growth of 18% dropping down to gross profit up ~30%, but the they only managed 16% and 9% respectively. The big miss here is the profit line with the market worried margin expectations may be too high.
Kogan.com (KGN) Chart
