(MENAFN) Due to big investments in logistics capacity weighing on the financials of the startup company, Coupang, a leading South Korean e-commerce operator, is anticipated to report swelling operating losses for the previous year.
The firm is forecasted to register more than USD326.9 million in operating losses when it records its last year's audit report in mid-April on the back of climbing costs in building new logistics centers and hiring new staff.
In November, Coupang prepared to invest USD1.2 billion in increasing logistics volume by 2017 to step up its same-day delivery service, just months after it won a USD1 billion investment from Japanese behemoth SoftBank Corp.
Furthermore, its sales were projected to have surged more than four-fold last year from USD283.1 million in 2014 driven by its same-day delivery service which helped attract more customers in online marketplaces.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.