Redbubble Falls on Lower Growth and Increased Competition

  • Dec 12, 2019 AEDT
  • Team Kalkine

Redbubble Limited (ASX: RBL), the owner and operator of Redbubble and TeePublic, announced a trading update for the quarter (from 1 October to December 9, 2019). The Redbubble Group expects that the Marketplace Revenue growth for the second quarter to date is 20% YoY on a floating basis.

  • The TeePublic branded marketplace has reported strong numbers with QTD Marketplace Revenue Growth of 59% YoY.
  • The Redbubble branded marketplace’s QTD growth is 2% YoY.

The above-mentioned growth is lower than the expectations and is mainly due to increased price competition in RBL’s market leading sticker position.

At AEST 12:58PM, the stock was trading at $1.047 per share, down by 42.15% from its previous close.

 

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