Coupang Inc. reported a net sales figure of $6.14 billion for the latest quarter, which was lower than analysts' expectations of $6.24 billion. The company's operating income was recorded at $109 million, also falling short of projections.
The decline in net income during the quarter was attributed to losses associated with Farfetch, the online luxury retailer that Coupang acquired in January. This acquisition has impacted the overall financial performance, contributing to the company's struggles in the competitive retail landscape.