Groupon shares take fresh hit as new CEO outlines strategy
Group posted US$27.6m quarterly loss; to invest in customer acquisition, streamline global ops
San Francisco
TAKE another discount on the stock price: Groupon fell hard on Wednesday as the company's new chief executive laid out his strategy in the face of weakening sales.
In midday trade, the daily deals group Groupon traded down 27 per cent at US$2.93 - after already tumbling some 75 per cent over the past two years, Groupon on Tuesday named Rich Williams as its new CEO, replacing co-founder Eric Lefkofsky,…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Billionaires selling cheap stuff get richer from inflation pain
Amazon to push cashierless shopping tech into more third-party stores, while backing off itself
Japan’s Uniqlo opens Rome store as part of European expansion
Abbott beats quarterly profit estimates on strong medical device sales
Adidas shares surpass two-year high as 'terrace' sneaker trend boosts brand heat
LVMH’s first quarter sales growth slips to 3% on luxury slowdown