Reported 20 days ago
Coupang Inc. saw its shares drop nearly 9% in after-hours trading following a report indicating that its retail net sales of $6.14 billion fell short of Wall Street's expectations of $6.24 billion. Despite showing strong growth in other areas, including a 27% increase in net revenue, the disappointing retail sales and losses from its recent acquisition of luxury online retailer Farfetch overshadowed the company's performance.
Source: YAHOO