Analysis

Kogan sales slump but shares surge as it goes back to basics

Paul SmithTechnology editor

Jul 30, 2023 – 2.37pm

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

For the anxious investor, the headline on last Wednesday’s report about online retailer Kogan’s unaudited financial update would have been all they needed to read before heading for the exits: “Kogan sales, profits slide amid consumer slowdown,” it accurately recorded.

However since that news was released, Kogan’s shares rose to hit their highest point in a year. Despite dropping back on Friday, they remain up 4.1 per cent for the week at $6.35 – a 24.8 per cent rise over the last month.

Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy.