Groupon Shakes Up Management — Reuters
In an effort to fix its sagging European business, Groupon Inc. (NASDAQ: GRPN) has named a new head of its European, Middle East and Africa (EMEA) region, according to an exclusive report at Reuters. Chris Muhr, currently senior vice-president of…
Groupon’s declining sales and profits have opened the exit door for a number of the daily deal company’s executives. That is especially true of the sales team, which lost a senior vice-president and at least one other top sales exec last month.
The problem in Europe is that many of the company’s customers think that the discounts offered by Groupon are too large. If the deals drove more customers to the merchants, of course, they would not be complaining. As it is though, the steep discounts are cutting sales and not making it up on volume. That will not be an easy issue to fix.
Groupon’s shares are up fractionally in the premarket to $4.81. The 52-week range is $4.00 to $31.14.
Paul Ausick
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
