Online retailer Kogan.com has reported a fall in sales for the latest quarter, citing a slow down in Australian eCommerce activity.
Gross sales were dow by 3.8% year on year during the third quarter of fiscal 2022, with gross profit down 11.2% to $41 million.
Kogan said it will be “recalibrating its operating costs in line with current growth levels" to support a return to the historical operating margins previously generated.
“While market conditions are challenging at present, the foundations laid over the last 16 years are holding us in good stead,” Kogan founder and CEO Ruslan Kogan said.