ASX-listed online retailer Kogan.com has swooped on another distressed asset, acquiring failed furniture brand Brosa a week after it was placed in voluntary administration. Administrators KordaMentha reached a deal with Kogan.com (ASX:KGN) to buy Brosa’s assets for $1.5 million after more than 30 parties expressed interest in the 48 hours after the business was placed… Read more »
Ruslan Kogan, founder and CEO of the ASX-listed online retailer bearing his name, is paid more than the chief executives of retail giants Woolworths, Coles and Wesfarmers, taking home a whopping $9 million pay packet last year. But it seems many of the company’s shareholders question that cost, with the company’s remuneration report copping a… Read more »
Ecommerce retailer Kogan.com saw its shares fall nearly 16% after the company reported an 87% drop in net profit after tax in the 2021 financial years to just $3.5 million. Kogan shares (ASX: KGN) lost $2.07 to close at $11.06, after the company reduced margins and ramped up marketing to shift an excess of stock.… Read more »
A marketing campaign by Kogan.com that the Federal Court declaring “false and misleading” has cost the online retailer $350,000 as well as legal costs. Competition regulator the ACCC launched legal action against Kogan.com last year over the 2018 “tax time savings” alleging that the company increased prices on 621 products, in most cases by at… Read more »
Ruslan Kogan, CEO of Kogan.com, and his co-founder and CFO David Shafer have scored $75 million windfall after shareholders voted narrowly in favour of granting the duo 6 million share options at a fraction of the current share price. At today’s AGM, the deal, struck in May at an options share price of $5.29, was… Read more »
Kogan.com co-founders Ruslan Kogan and CFO David Shafer a selling a 6.9% stake in the business as the company’s share price soars to record highs following its FY20 results this week. In a note to the ASX this morning, the company (ASX: KGN) said the duo are selling 7.3 million shares. Kogan shares hit $22.99… Read more »
Gross sales of $768.9 million, up 39.3% on FY19 Revenue of $497.9 million, up 13.5% Gross profit of $126.5 million, up 39.6% Adjusted EBITDA of $49.7 million, up 57.6% NPAT of $26.8 million, up 55.9% Active Customer base of 2,183,000, up 35.7% Fully franked final dividend of 13.5 cents per share, up 64.6% Final dividend… Read more »
Advertising for end of financial year discounts by online retailer Kogan Australia Pty Ltd (Kogan) was false and misleading, in breach of Australian Consumer Law, the Federal Court has found. Consumer watchdog the ACCC, launched legal action against Kogan in May last year over the advertising campaign, which ran online between June 27-30, 2018, which… Read more »
• Gross sales grew by more than 16% • Gross profit grew by more than 9% • Operating costs declined marginally • Cash at period end was $34.1 million Kogan.com Ltd (ASX: KGN) has defied tough retail conditions to post a record half-yearly result helped by its best-ever Black Friday and Boxing Day trading… Read more »
The Kogan.com promotion the ACCC alleges was misleading. Internet entrepreneur Ruslan Kogan’s online retail empire has fallen foul of consumer watchdog the ACCC (Australian Competition and Consumer Commission), which is suing the business over false or misleading conduct claims, alleging Kogan increased prices ahead of a discount sale. The ACCC has launched Federal Court action… Read more »
Catch Group has announced today its acquisition of troubled trans-Tasman childrenswear retailer Pumpkin Patch, with its focus on reviving the brand online.
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