** 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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