MoneyShares in Kogan.com are getting crushed, down 30% for the day

01:31  30 october  2018
01:31  30 october  2018 Source:   businessinsider.com.au

Family saves toddler from being crushed by python in Far North Queensland

Family saves toddler from being crushed by python in Far North Queensland A far north Queensland family save a 22-month-old boy from the jaws of a four-metre-long scrub python after it latched onto the child while he was playing at the family home in Julatten, north of Cairns. Mother Amanda Rutland said she was horrified when she discovered the snake had bitten her son and was wrapping its body around the young boy last Saturday afternoon. "Something that size and he's so tiny … It was scary as hell, I can't put into words," Ms Rutland said. Naish and his three-year-old sister Evie-Blue, were playing on the back verandah when the python struck.

Kogan . com 's sales slowdown could accelerate if GST laws ' are not enforced heavily'. Shares in online retailer Kogan . com plunged yesterday after the company reported a slowdown in sales revenue. Superannuation in Australia are the arrangements put in place by the Government of Australia to

Kogan . com is Australia's premier online shopping destination, offering amazing deals on TVs, tech, homewares, fitness, fashion, tools, outdoor and more! Create your free Kogan . com account. Continue with. Facebook Google PayPal.

Shares in Kogan.com are getting crushed, down 30% for the day© Supplied Ruslan Kogan. Image: supplied.

    Online electronics retailer Kogan.com is having a horror day on the ASX, with shares in the company down more than 30% in midday trade.

    Shares in Kogan.com are getting crushed, down 30% for the day© Supplied Investing.com

    The company released a trading update to the market this morning which showed revenue from "Global Brands" slumped by 27% from a year earlier.

    Kogan attributed the decline to the federal government's recent changes to GST laws. Since July 1 2018, GST has been applied on all overseas online purchases, rather than just transactions above $1,000.

    "Initially, this saw some competitors exit the market and the company’s July Revenue grew 33% year-on-year," Kogan said.

    However, "more recently, widespread avoidance of GST has become apparent". The company said it is "unable to determine whether the recent widespread avoidance of GST will be temporary".

    In addition to foreign competitor websites, Kogan said the recent weakness in the Australian dollar was putting pressure on margins.

    Elsewhere in the update, Kogan said it had achieved annual customer growth of 41.6% in the September quarter.

    Kogan.com is taking a tilt at superannuation with its own no frills fund.
    Online retailer Kogan.com plans its own super fund. Kogan.com, the pure-play online retailer with a portfolio of goods and services, is taking on the superannuation industry with what it calls a no-frills fund. The company announced a deal with Mercer to launch an "ultra-low" fee Australian superannuation fund, leveraging Kogan.com’s digital efficiency and customer base. The agreement follows closely on Kogan.com adding home loans to its portfolio which includes Kogan Retail, Kogan Marketplace, Kogan Mobile, Kogan Internet, Kogan Insurance, Kogan Health and Kogan Travel. Kogan.

    —   Share news in the SOC. Networks

    Topical videos:

    This is interesting!