While the customer increase seems like a promising sign, Groupon still looks like a fundamentally flawed business. A sequential increase in the customer base of 4% should have led to more than a year-over-year increase in revenue of 2%.
GoPro and Groupon released their latest earnings reports after closing bell. GoPro reported adjusted losses of 52 cents per share on $220.8 million in revenue, against the consensus estimates of 58 cents per share in adjusted losses on $194.6 million ...
U.S. stocks are down, as traders eye the latest batch of earnings reports. Among equities in focus today are discount provider Groupon Inc (NASDAQ:GRPN), automaker Ford Motor Company (NYSE:F), and software stock Oracle Corporation (NYSE:ORCL).
Groupon named Rich Williams as its CEO in November of last year, and the company has shifted its strategy since. Williams admitted that Groupon had scaled too quickly, and he plans to streamline the company and stop chasing low-margin opportunities.
Comparable store sales has been slowing for more than two years as consumers questions Whole Food's pricing strategy. Whole Foods was notorious for jacking up prices until recent pivots towards cost cutting and customer loyalty programs.