BUZZ-Australia's Kogan sees worst day in over four years on subdued quarter

Reuters04-24

** Shares of Kogan dive as much as 26.7% to A$5.15, set to see their worst day since March 9, 2020 - if current losses hold

** Stock top loser in ASX All Ordinaries Index

** The online retailer reports a 6.2% drop in quarterly gross sales to A$178.3 million ($115.73 million) due to a reduction in inventories; posts a 2.4% decline in revenue to A$105.9 million

** However, co reports a 13.8% rise in gross profit to A$39 million due to higher gross margin

** Shares hit lowest since April 5

** Stock has risen ~34.4% this year as of last close

($1 = 1.5406 Australian dollars)

(Reporting by Archishma Iyer in Bengaluru)

((Archishma.Iyer@thomsonreuters.com;))

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