Kogan downgrades, hit by growth pains
Kogan downgrades, hit by growth pains Share Online retailer Kogan.com has slashed its outlook pointing to its rapid growth during the past year which resulted in a miscalculation of inventory and higher warehousing costs. A key issue as a result of the surging demand amid COVID-19 has been managing inventory levels to support rapid growth of the company. Over the first half of fiscal 2021, Kogan.com effectively doubled in size as consumers shopped online, and resulted in the company significantly expanded its inventory holdings. It also grew its logistics footprint to 31 facilities, many of w...