Online shopping trader Kogan has reported a surge in sales during April and May as coronavirus lockdowns restricted activity in the retail sector.
Kogan said in a fourth quarter progress report gross sales were up more than 100 per cent from a year ago while gross profit improved more than 130 per cent for the two-month period.
The online retailer added 126,000 active customers in May alone, taking total active customers to over 2 million.
Kogan’s number may have been partly helped by its acquisition of furniture trader Matt Blatt in May.
The results are a contrast to the disastrous April trading figures for the retail industry.
Retail spending fell by a record 17.7 per cent in April, figures from the Australian Bureau of Statistics revealed on Thursday, as job losses, lockdown measures and economic impact of COVID-19 were fully realised.
Kogan looks to have benefited from a surge in online spending during the COVID shutdown.
Online sales soared 26.4 per cent in April, ABS data showed.
Kogan.com share were up 10 per cent at $12.55 in early trade and have now jumped more than 50 per cent since January 1.