Sumary of ASX flat, EML soars 30% as Irish concerns ease, Kogan offers guidance:
- Online retailer Kogan has been slapped with a strong protest vote against the company’s executive pay following a tumultuous year for the business that has seen its share price decline 60 per cent since January.
- Credit:Louie DouvisThis marks the second year the company has received a strike at its AGM, with 43 per cent of shareholders voting against last year’s remuneration report following a controversial decision to issue executives Ruslan Kogan and David Shafer with $112 million in share options.
- Mr Kogan and chairman Greg Ridder pushed the company’s prospects for future growth at the meeting, with the business taking the rare step of giving its shareholders long-term forecasts, something it has historically been reluctant to do.
- Read the full story hereLock ’n load your digital and leather wallets – retail bargain hunting season has officially begun.
- It is a nail-biting time for all retailers, whose yearly sales and earnings are heavily skewed to their performance over this weekend’s Black Friday and Cyber Monday.
- Logistics issues, supply shortages, staff shortages and transport delays are additional ingredients that retailers will have to account for this year when managing inventory for these four days of intense shopper degustation.
- Black Friday and Cyber Monday sales will provide a barometer of retail health ahead of the festive season.
- Having emerged from restricted lockdowns, retailers are hoping that the billions of dollars saved from 18 months of travel restrictions and various government stimulus packages have provided the pre-conditions for a shopping bonanza.